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Glory Capital buy.


Glory Capital acquired a 60,000 s/f mixed-use development Mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses.  in Wilkes-Barre, Pennsylvania Wilkes-Barre (IPA: /ˈwɪlksbɛrə/, /-bɛri/, or /-bɛr/[1] , with the right to develop an additional 100,000 s/f.

The property is in close proximity to Mohegan Sun The Mohegan Sun Resort and Casino located in the village of Uncasville in the town of Montville, Connecticut, U.S., is the world's second largest casino. It is located on 240 acres (0 km) along the banks of Thames River.  at Pocono Downs Race Track, Pennsylvania's only casino casino or cassino (both: kəsē`nō).

1 Card game played with a full deck by two to four players. Its origins are obscure though it probably traces back to the Italian game of Scopa.
, and was purchased by Glory Capital below market as the area experiences tremendous growth as a result of the new gambling venue.

The property features retail space currently occupied by a restaurant as well as office space which will be expanded and upgraded.

Solomon Franco of Prime Capital arranged the financing for this transaction.
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Publication:Real Estate Weekly
Date:Jun 27, 2007
Words:95
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