Jones Lang LaSalle has negotiated the sale of Logan Town Center for $104 million to AVR. The power center was sold by MM Altoona Associates LP. Jones Lang LaSalle managing director Jim Koury represented the seller and procured the buyer.
Logan Town Centre is located at Exit 33 of I-99 within the trade area defined by the "Tri-City" Region of Altoona, State College and Johnstown. The 852,541s/f shopping center was 95% occupied at the time of sale. Its anchor tenants include: Giant Eagle Supermarket, Kohl's, Staples, Best Buy, Petco, Dicks Sporting Goods, Barnes and Noble, Bed Bath and Beyond, Ross, Boscovs and Home Depot.
According to Koury, "It was a pleasure in being able to assist the developer in the sale of one of the largest supermarket anchored centers in the Notheast U.S. It truly was occupied by a who's who of tenants."