March 31, 2020 [Allentown, PA] – A former restaurant supply store at 1633 Airport has been recently purchased by Victory Development, who will be redeveloping the site and building for a new use. Located at the junction of Airport Road and American Parkway, the property offers tremendous visibility and ease of access to the area’s major retail corridors and roadways, making it an ideal space to cultivate a new vision.
The 15,200 sf building on 1.17 acres sold for $1,500,000 in a transaction brokered by Seth Lacey and Derek Zerfass of Colliers International’s Allentown office. While the property had sat vacant for a little over three years, once Colliers became aware of the owner’s willingness to sell, the team was able to bring a buyer and close the deal in under seven months for seller Calumet Properties.
Greg Bianchi of U.S. Realty represented the buyer in this transaction.
For further information, contact
Seth Lacey, Associate Broker
+1 610 413 2783 | Seth.Lacey@colliers.com
Derek Zerfass, Senior Vice President
+1 610 295 6125 | Derek.Zerfass@colliers.com
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.