CBRE Arranges Sale of Dickson City Commons in Dickson City, Pennsylvania

CBRE has arranged the sale of Dickson City Commons, a 110,254-square-foot shopping center in Dickson City. Getty Corp. purchased the property from Meritus Realty Ventures.

Chris Munley, Colin Behr, Ryan Sciullo and Casey Smith of CBRE's National Retail Partners team represented the seller in the transaction.

“We continue to see strong investor demand for dominant retail centers in secondary and tertiary markets,” said Behr. “Buyers are increasingly targeting best-in-class assets in smaller trade areas, recognizing the opportunity to acquire high-quality real estate at more attractive yields than comparable assets in primary infill markets. Dickson City Commons sale exemplified this trend, generating significant interest and a highly competitive bidding process.”

Dickson City Commons is strategically located at 1106 Commerce Blvd., within the Scranton-Wilkes-Barre metropolitan area and near the Interstate 81, U.S. Route 6 and Route 11 intersection. The property is anchored by Marshalls and Michaels and features a variety of national and regional retailers, including Skechers, Famous Footwear, Pet Supplies Plus and Fine Wine & Good Spirits.

“Congratulations to Meritus Realty on an outstanding execution at Dickson City Commons,” said Munley. “They identified the asset's untapped potential, moved quickly and decisively to reposition it, and delivered meaningful results with a compressed exit cap rate. It was a pleasure representing them on this transaction.”

The property has undergone recent renovations totaling nearly $1 million, including a $800,000 parking lot resurfacing project, façade upgrades, roof repairs, LED lighting enhancements and landscaping improvements.