Park Hills Plaza — Sale in Altoona, PA

  • Price: $49
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Altoona, PA 16602
  • Size: 238,000 SF
  • Year built: 2019

Photos

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Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to exclusively offer 212-218 Park Hills Plaza (the "Property"), a 9,894 square foot retail strip located on Route 220 / West Plank Road in Altoona, Blair County, Pennsylvania. The Property is situated within the broader Park Hills Plaza, a 238,000 SF Weis-anchored shopping center with high-performing national / credit tenancy that includes Burlington, Harbor Freight, Dunham's Sporting Goods and more. The Property is 100% leased with a high-performing national merchandising mix that includes Starbucks, Kay Jewelers, Tropical Smoothie Cafe, Sport Clips and T-Mobile, with a weighted average lease term of +5.6 years. Ownership is currently at lease with T-Mobile (corporate) to backfill the 2,600 square foot endcap previously occupied by Sleep Number at $49.00 PSF, a nearly 20% leasing spread above Sleep Number's rent. Park Hills Plaza enjoys tremendous visibility and accessibility along Route 220 / West Plank Road (+24,000 VPD), the premier commercial corridor in Altoona, just 0.25 miles from the I-99 interchange (+55,000 VPD). As evidenced by Placer.ai, the Property provides investors a durable, secure income stream from high-performing national retail tenancy well-positioned at the most highly-trafficked interchange in an extended trade area with ongoing mark-to-market opportunities.

Market Context

This retail in Altoona, PA is listed for sale at $49 across 238,000 SF. The building dates to 2019. Compare it against other retail listings for sale in Altoona, PA — view the full market.

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