Bart Blatstein is taking his first leap into Atlantic City and is buying the Pier Shops at Caesars. The developer, known for going into areas that others veer away from or don’t even consider, is acquiring the 290,210-square-foot retail center at 1 Atlantic Ocean Ave. for a steep discount. Blatstein is reportedly paying $2.5 million for the property, according to sources.
Blatstein and his Tower Investments have focused on buying and developing retail, residential and mixed-use properties in Philadelphia. The acquisition of the Pier Shops is expected to be the first of many in the struggling Shore town for Blatstein.
“I’m thrilled to be a part of the renaissance of Atlantic City,” he said. “This is what Tower Investments does. We go into areas that others run away from and revitalize them.”
Full Story in Philadelphia Business Journal http://www.bizjournals.com/philadelphia/blog/real-estate/2014/10/blatstein-to-buy-pier-shops-in-atlantic-city.html
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