Walnutport Kmart

Property Details

Investment Highlights

• The Asset offers the highly desirable opportunity for investors to redevelop or repurpose the box-space in the near-term as landlord retains the strategic right to recapture 50% of the space at limited costs, enabling significant income uptick.
• The Property is located directly off of Route-145, providing direct access to downtown Allentown and the Pennsylvania Turnpike’s Northeast Extension
• The Lehigh Valley submarket has experienced tremendous market fundamentals over the past few years, including 756,266 square feet of direct net absorption since the beginning of 2017, and an increase in direct net rents of 10.1% since the beginning of 2016.
• Kmart is currently paying a full NNN rent on the Property, which will enable investors to earn a healthy cash flow and reduce basis prior to a redevelopment and increase in rental rate.

Project Description

The Property offers the opportunity for investors to create significant value by redeveloping or repurposing all or a portion of the box space in the near to mid-term.​ The asset provides the landlord the right to recapture 50% of the space at limited costs, enabling ownership to significantly increase the income.​ The Property’s location, along a major retail corridor and adjacent to significant traffic drivers, will enable a buyer to acquire significant interest and ultimately strong end-users for the space.​

Property Location: