Ollie's
26,000 SF Retail Condo Unit Offered at $2,633,928 in Bloomsburg, PA 17815
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,633,928
- Property Type
-
Retail
Listing Contacts
Richard Geisenfeld
Verified Profile
- Property Info
Property Overview
Capital Commercial Partners is pleased to bring to the market this Ollie’s Condo located at the Columbia Mall in Bloomsburg, PA. The investment offers an above market return with corporate guaranty from Ollie’s. The tenant executed a new 8-year lease with a rent commencement of July 26, 2024. Ollie’s agreed to a higher rent structure than they normally pay at $9 PSF demonstrating their expectation for strong store sales.
The mall is undergoing a complete transformation to open air lifestyle mixed use center. Geisinger Health Systems is developing a hospital campus adjoining the mall and will be pedestrian between the two developments. This will make it very easy to work, live, and shop all in the same place.
This is a unique opportunity for an investor to acquire a great location, excellent return, corporate guaranty, tremendous upside with the mall redevelopment, and at only $101.30 price per square foot; substantially below replacement cost of more than $200 PSF. The condo will get a new roof, HVAC’s, and parking lot.
The mall is undergoing a complete transformation to open air lifestyle mixed use center. Geisinger Health Systems is developing a hospital campus adjoining the mall and will be pedestrian between the two developments. This will make it very easy to work, live, and shop all in the same place.
This is a unique opportunity for an investor to acquire a great location, excellent return, corporate guaranty, tremendous upside with the mall redevelopment, and at only $101.30 price per square foot; substantially below replacement cost of more than $200 PSF. The condo will get a new roof, HVAC’s, and parking lot.
Property Details
- Class
- B
- Year Built
- 1988
- Lot Size (sq. ft)
- 412,513 SF
- Units
- 1
Highlights
- Corporate guaranty from Ollie’s with $4.86B market cap
- Replaceable rents at $9 PSF with .35 PSF rent increases in options
- Ollie’s space will have new roof , HVAC’s, and parking lot
- Mall to be completely transformed into open air lifestyle center
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