PHILADELPHIA, PA, December 1, 2009 — Michael Salove Company, an X Team partner, announced today the completion of a lease transaction valued at over $1.1 million at Muhlenberg Square in Reading, PA with Goodwill. Goodwill will open April 2010, and will occupy 14,300 sf. Muhlenberg Square, located at the intersection of N. 5th Street Highway and Bellevue Ave., includes Hollywood Video, Aaron Rents, Best Buy Home Furnishings, and Rita’s Water Ice.
Jason Bock, of Michael Salove Company, represented the landlord in this transaction. Gary Russell of Bennett Williams represented the tenant. Mr. Bock noted, “This relocation will allow Goodwill to almost double their current store size in the market and be placed in a more visible and prominent location.”
Goodwill Industries International is a non-profit organization that enhances the dignity and quality of life of individuals, families and communities by eliminating barriers to opportunity and helping people in need reach their fullest potential through the power of work. Goodwill is funded by a massive network of over 2,300 retail thrift stores, and is one of the nation's top five most valuable and recognized nonprofit brands as well as a leading social services enterprise.
Michael Salove Company has its headquarters in Center City Philadelphia. It is recognized as the preeminent retail real estate advisory & brokerage firm serving all of Pennsylvania, New Jersey and Delaware, with extensive experience in retail tenant representation, owner/developer representation, urban retail advisory services and investment sales.
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services, property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.salove.com and www.xteam.net
