Waynesboro plaza changes hands

February 10, 1998|By RICHARD F. BELISLE, Waynesboro

Waynesboro plaza changes hands

WAYNESBORO, Pa. - A Baltimore real estate investment firm plans to renovate and expand Wayne Heights Plaza, a spokeswoman for the company said Tuesday.

Jennifer Reuling, property manager for Mid-Atlantic Realty Trust, said her company last month bought the 109,000-square-foot mall for $3.5 million.

According to Washington Township Manager Mike Christopher, two acres on the property on Pa. 16 east of Waynesboro remain undeveloped.

Reuling said renovation would begin in the near future. Reuling said Mid-Atlantic has no immediate plans for the mall.

About 85 percent of the mall's retail space is leased to national and regional tenants, she said.

Among them are Ames Department Store, Eckerd/Thrift Drug Store, Martin's Food Market, Family Arcade and Hardee's and Golden Corral restaurants.

Christopher said existing stores and restaurants in the mall could expand to better serve their customers.

"The Wayne Heights purchase, MART's first Pennsylvania property, is in furtherance of MART's strategy of concentrating its investments in the Mid-Atlantic states," said LeRoy E. Hoffberger, chairman of the board, in a press release.


The township stands to gain more than $26,000 in property transfer taxes from the transaction, Christopher said.

"This is an unexpected check that the board will be able to spend," Christopher said.

The township's budget for property transfer tax income was set at $95,000 this year, he said. The township's annual operating budget is about $2.5 million.

Mid-Atlantic Realty Trust will be the third owner of the mall since it opened in 1975.

Reuling said Mid-Atlantic Realty Trust owns more than 4 million square feet of retail space in seven states, including Pennsylvania and Maryland.

Land for the mall was sold to a group called Wayne Heights Shopping Plaza, Inc. for $55,000 in 1968 by Carrie D. Good of Quincy Township, according to deeds.

Courthouse records showing when the center was built could not be found.

The records show that Wayne Heights Shopping Plaza Inc., sold the property to Wayne Heights Equities Limited Partnership in 1971 for $125,000. In 1982 Wayne Heights Equities Limited Partnership sold it to Samuel and Illa Stern for $825,00, according to courthouse records. At that time, the property covered 15.5 acres.

Illa Stern was listed as the owner in the January sale. According to court records, her husband, Samuel Stern, is deceased.

- Staff Writer Don Aines contributed to this report

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