Punxsutawney Plaza 21878-21898 US 119 13,715 SF 100% Leased Retail Building Punxsutawney, PA 15767 $1,991,978 CAD ($145.24 CAD/SF) 10% Cap Rate

CBRE is pleased to present the opportunity to acquire fee-simple interest in Punxsutawney Plaza, a 13,715 SF, Walmart shadow-anchored retail strip center.
Punxsutawney Plaza presents a unique, value-add Walmart shadow opportunity with signi?cant upside through lease extensions, mark-to-market rents, lease structures, credit enhancements and the potential to development/redevelopment as a covered land play.
Punxsutawney Plaza (the “Property”) is located at 21878-21898 US-119, Punxsutawney, PA 15767. The Property is currently 100% occupied with an average in-place rental rate of $15.87/SF and a remaining weighted average lease term of 1.8 years. The Property is occupied by 8 different tenants that offer a wide variety of products and services, including Cricket Wireless, Verizon, Holiday Hair Salon, Cloud Factory Smoke Shop, Reeder’s Hoagies, LA Nails, Clown?sh Studios, and China Wok, with no single tenant occupying more than 18.7% of Total GLA. In addition to the 180,000 SF Walmart shadow anchor, additional customer traffic is generated through neighboring outparcels including Dollar Tree, Aaron’s, Taco Bell, and Pizza Hut.
The Property is located approximately 1.5 miles south of Downtown Punxsutawney sits on a 2.08 acre parcel (Parcel ID: 42-565-0139-CB2) directly off of US Route 119 and Snyder Hill Road. US Route 119 provides access to other major roadways and interstates throughout the region, including PA Route 36. The Property is also located near local school districts, suburban communities, Punxsutawney Municipal Airport, retailers, restaurants, and local entertainment & tourist centers. Punxsutawney is home to The Gobbler’s Knob, where the popular holiday, Groundhog Day, is held and is an annual tradition that occurs on February 2nd and gathers almost 40,000 visitors each year.