Hinerfeld Commercial Real Estate (Scranton, PA) in cooperation with Newmark (Washington D.C.) is pleased to announce the successful sale of the prominent Class A Financial Office Building known as 315 Franklin Avenue, Scranton, PA 18503 (+/-24,600,) . As part of the $5,000,000.00 sale Hinerfeld/Newmark negotiated the leaseback of the ground floor of the building as a bank branch for the Seller, Pentagon Federal Credit Union (PenFed). The property occupies a high access, high visibility position in the Scranton central business district (CBD) at the confluence of the Scranton Expressway and the central business district road grid system. Originally developed as a bank branch and financial services back office by Tobyhanna Federal Credit Union (aka Valor Federal Credit Union), it was subsequently acquired by Pentagon Federal Credit Union (PenFed). The new owner, Lackawanna County (government), purchased the property for use in government health system programming and services. Hinerfeld Commercial Real Estate (Griff Keefer) and Newmark (Barton Drummond) represented the Seller in the transaction. Hinerfeld Commercial Real Estate (John Cognetti) represented the Buyer.
About HINERFELD CRE:
Colin “Griff” Keefer and John Cognetti are veteran members of the Hinerfeld Commercial Real Estate team and bring multi-faceted experience in commercial property management, sales, development and leasing to the role. With a combined 75+ years of commercial real estate experience on staff, Hinerfeld Commercial Real Estate is one of the oldest, continuously operating real estate companies in Northeastern Pennsylvania, tracing its origins back to 1934. We are a leader in the brokerage of commercial and industrial properties in Northeastern PA. Our knowledge of the Commercial Real Estate business is deep. Quality service to our clients, integrity, market knowledge, community involvement and professionalism are core values incorporated in our daily business practices. The outcome has been the opportunity to represent a variety of regional, national and international corporate and individual clients.
Throughout the course of the Company’s history, Hinerfeld Commercial Real Estate has been privileged to have as clients many regional and national companies including: AT&T, Aramark, Fastenal, Cargill, Akzo- Nobel, FEDEX, Geisinger Healthcare Systems, Lehigh Valley Health Network, Allied Services, Dish Network, MAB Paints, Motion Industries, Rentokil Inc, GE Capital, Hertz Penske, Schwan’s, Frito Lay, Wells Fargo, Pentagon Federal, Fidelity Bank, Tredegar Corporation, Turkey Hill, Met Life, and Valmont Industries to name a few.
