Getty Corp. Acquires Dickson City Commons for $23.75 Million in CBRE-Brokered Sale
Getty Corp. has acquired Dickson City Commons, a 110,254-square-foot retail shopping center in Dickson City, Pennsylvania, from Meritus Realty Ventures for $23.75 million, or approximately $215 per square foot. CBRE arranged the sale, with Chris Munley, Colin Behr, Ryan Sciullo and Casey Smith of the firm's National Retail Partners team representing the seller.
Property and Transaction Details
Dickson City Commons is located at 1106 Commerce Blvd. within the Scranton–Wilkes-Barre metropolitan area, near the intersection of Interstate 81, U.S. Route 6 and Route 11. The property spans approximately 14 acres and was fully occupied at the time of sale. The center is anchored by Marshalls and Michaels and includes a mix of national and regional tenants such as Skechers, Famous Footwear, Pet Supplies Plus and Fine Wine & Good Spirits. Additional tenants include Mattress Firm, Comcast and T-Mobile, with Target serving as a shadow anchor and Walmart located adjacent to the property.
The acquiring entity was identified in deed records as Dickson City Commons PA LLC, affiliated with Getty Corp. The selling entity was MRV Dickson City Partners LLC, affiliated with Meritus Realty Ventures.
Capital Improvements Supported the Sale
Prior to the sale, Meritus Realty Ventures completed nearly $1 million in capital improvements at the property. The renovations included an approximately $800,000 parking lot resurfacing project, along with façade upgrades, roof repairs, LED lighting enhancements and landscaping improvements. CBRE noted that the seller achieved a compressed exit cap rate on the transaction.
"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."
Investor Demand for Secondary-Market Retail
The transaction drew significant buyer interest and a competitive bidding process, according to CBRE. Colin Behr attributed the activity to a broader shift in investor appetite toward well-positioned retail assets in smaller metropolitan areas.
"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."
Several characteristics of the property supported that demand. Full occupancy at the time of sale reduced near-term leasing risk and provided dependable in-place income. The center's tenant roster — anchored by national retailers and complemented by traffic-driving shadow anchors — reinforced its role as a regional shopping destination. The property's location near a major interstate interchange extended its reach across the broader Scranton–Wilkes-Barre trade area, and the recent capital investment addressed physical-condition considerations ahead of the marketing process.
Market Context
The Dickson City Commons sale reflects selective investor demand for stabilized, necessity-oriented retail assets in secondary markets. CBRE's 2026 outlook projected U.S. commercial real estate investment volume to increase 16%, with retail investment volume forecast to rise 17%. The firm indicated that cap rates were expected to remain broadly stable through the end of 2026, with compression pushed to 2027 as interest rates remained higher than previously anticipated. In that environment, fully occupied assets with durable tenant rosters and limited near-term capital needs have drawn competitive buyer interest, as the Dickson City Commons transaction illustrates.
Sources
CBRE Press Release: CBRE Arranges Sale of Dickson City Commons in Dickson City, Pennsylvania