LEIGHTON, PENNSYLVANIA, November 10, 2021 – Colliers is pleased to announce the team of Jeff Algatt and Scott Horner recently completed the investment sale of Carbon Plaza, a 210,000 square foot grocery-anchored shopping center at 1241 Blakeslee Blvd Dr E, Lehighton Pennsylvania as exclusive listing agents on behalf of their Delaware-based private capital Seller.
Colliers’ Derek Zerfass represented the Buyer, a private equity investor and developer based in central New Jersey. The Colliers leasing team led by Horner will continue as leasing agent for the Buyer.
The 34-acre property is 95% leased to a solid roster of national, regional and local tenants led by a 74,000 square foot Giant supermarket (Ahold Delhaize USA), McDonald’s, Rite Aid, Arby’s, Taco Bell, Big Lots, First Commonwealth Federal Credit Union, Lehigh Valley Health Network, and St. Luke’s University Health Network.
Algatt noted, “Our team and platform enabled us to quickly generate multiple buyers looking at this opportunity, and ultimately we selected a seasoned investor offering an $18 million all cash, no financing purchase with an aggressive due diligence and closing schedule. This allowed us to meet our Seller’s objectives of both a top of the market price and a closing before the end of 2021.”
Carbon Plaza has excellent visibility with extensive frontage of 1,200 feet on busy Blakeslee Boulevard and is located less than four miles from Interchange 74 of I-476.
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