225 Columbia Mall Dr, Bloomsburg, PA 17815
363,000 SF | 100% Leased | Retail Building | Bloomsburg, PA 17815 | For Sale
For Sale
Active
- Property Type
-
Retail
- Square Feet
- 363,000 SF
Listing Contacts
- Property Info
Property Overview
RI marketplace Online Auction February 13-15, 2023
Register to Bid Here:
https://rimarketplace.com/auction/1754/auction-columbia-mall-bloomsburg-pa?utm_source=costar&utm_medium=listing&utm_campaign=retail_1754
Realty Mark Associates, in conjunction with RI Marketplace, are pleased to bring to market Columbia Colonnade Mall, a 363,000 SF +/- regional mall on 34.95 acres located in Bloomsburg, PA. The Mall has been called an impressive case study by numerous MAI appraisers as a rare adaptive reuse of an existing regional mall. This is evidenced by the renewed tenant demand and to be in close proximity to the Geisinger development. The majority of these properties across the country are being torn down for other use types.
The adjoining land recently sold for $19M to Geisinger Health Systems for their new hospital campus surrounding the mall. Geisinger’s feasibility study showed this will create substantially more traffic at the Mall. The seller is negotiating an additional outparcel ground lease, 12,000 SF shopping center, and numerous new leases at the Mall. Since Geisinger announced their plans publicly, the demand for space for new tenants is emerging daily. This will provide a wide latitude for options and an immediate benefit in increased income.
This investment offers an unprecedented opportunity for a complete transformation of the Mall. Strategically located at the crossroads of I-80 and Route 42, the Mall sits just off the I-80 interchange with 35,000 vehicles per day and 11,000 vehicles per day on Route 42. It is also in close proximity to Bloomsburg University with a student enrollment of approximately 9,900+ students. Bloomsburg University has a storied history being founded in 1839 and is the 3rd largest of the 14 universities in Pennsylvania. The University has made the list of top universities in the northern region according to U.S. News and World Reports annual rankings.
Lamar P. Fisher
Fisher Auction Company Inc.
License: AU005925
Register to Bid Here:
https://rimarketplace.com/auction/1754/auction-columbia-mall-bloomsburg-pa?utm_source=costar&utm_medium=listing&utm_campaign=retail_1754
Realty Mark Associates, in conjunction with RI Marketplace, are pleased to bring to market Columbia Colonnade Mall, a 363,000 SF +/- regional mall on 34.95 acres located in Bloomsburg, PA. The Mall has been called an impressive case study by numerous MAI appraisers as a rare adaptive reuse of an existing regional mall. This is evidenced by the renewed tenant demand and to be in close proximity to the Geisinger development. The majority of these properties across the country are being torn down for other use types.
The adjoining land recently sold for $19M to Geisinger Health Systems for their new hospital campus surrounding the mall. Geisinger’s feasibility study showed this will create substantially more traffic at the Mall. The seller is negotiating an additional outparcel ground lease, 12,000 SF shopping center, and numerous new leases at the Mall. Since Geisinger announced their plans publicly, the demand for space for new tenants is emerging daily. This will provide a wide latitude for options and an immediate benefit in increased income.
This investment offers an unprecedented opportunity for a complete transformation of the Mall. Strategically located at the crossroads of I-80 and Route 42, the Mall sits just off the I-80 interchange with 35,000 vehicles per day and 11,000 vehicles per day on Route 42. It is also in close proximity to Bloomsburg University with a student enrollment of approximately 9,900+ students. Bloomsburg University has a storied history being founded in 1839 and is the 3rd largest of the 14 universities in Pennsylvania. The University has made the list of top universities in the northern region according to U.S. News and World Reports annual rankings.
Lamar P. Fisher
Fisher Auction Company Inc.
License: AU005925
Property Details
- Class
- B
- Year Built
- 1988
- Stories
- 1
- Property Subtype
- Storefront Retail/Office
- Lot Size (sq. ft)
- 1,522,422 SF
Highlights
- ONLINE AUCTION FEBRUARY 13-15, 2023
- Michael’s lease executed, lease out for signature from Ollie’s.. LOI’s with leases in progress from Primanti Bros. & Jersey Mike's
- Little to no submarket vacancy
- Rare opportunity for exceptional value-add opportunity with ongoing adaptive reuse of the 363,000 SF Columbia Regional Mall on 34.95 acres
- Geisinger Health Systems recently closed on the 74 acres of land adjoining the mall for $19M to develop a new hospital campus
- Plans to de-mall to open air lifestyle center with an opportunity for up to 375 unit “Class A” apartments supporting 2,000 Geisinger employees
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