Skip to main content Skip to footer

Colliers Concludes Sale of Landmark Bicentennial Building of Public Square

alt=""

Despite COVID, Resurgent Wilkes-Barre CBD Continues to See Investment

January 14, 2021 [Wilkes-Barre, PA] –  Colliers is pleased to announce the team of Jeff Algatt and John Susanin have recently completed the investment sale of 15 Public Square, a 74,452 multi-tenanted office and retail building, known also as the Bicentennial Building, a landmark property of Wilkes-Barre, PA’s central business district. 

The distinctive six story building features street level retail and five floors of offices spanning the northwest side of the city’s downtown hub, Public Square. The property was 83% occupied at the time of sale.  It was sold on behalf of Bicentennial Building Associates to a private investment group based in the New York metro area.

“Our ability to source buyers from both in and out of the local market, our team’s comprehensive local knowledge, and a patient seller and buyer all combined to conclude this sale even amid unforeseen COVID-19 difficulties” noted Jeff Algatt, a Senior Vice President of the Colliers Investment Sales group.

Wilkes-Barre’s CBD is a resurgent city center, bordered by Susquehanna River Common and home to major corporate occupiers, government seats and the campuses of Kings College and Wilkes University that features  attractive live-work-play amenities for urban living. 15 Public Square is located one block from the City’s primary intermodal hub. 

For further information, contact:

Jeff Algatt, Vice President  
+1 610 557 0180 | Jeff.Algatt@colliers.com

John Susanin, Senior Vice President  
+1 610 684 1860 | John.Susanin@colliers.com

 

###

 

About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. 
 
Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn

 

Download PDF  |  View all Philadelphia News


Related Experts

Jeff Algatt

Senior Vice President

Conshohocken

Jeff is a successful, seasoned intermediary between buyers, sellers and capital sources of investment real estate, always beginning with a thorough understanding of each client’s goals, expectations and needs. He evaluates and underwrites each client's situation in the context of relevant market data and conditions from 30,000 feet down to street level granularity. If the client decides a transaction is warranted, Jeff assembles and leads the best available team of professionals to achieve the client’s objective.

WHY CLIENTS ENGAGE JEFF'S SERVICES:  He is honest, organized, diligent, responsive and a good listener.

View expert

John Susanin

Senior Managing Director

Conshohocken

John Susanin joined Colliers in 2013.  His focus is on leasing and sales in suburban Philadelphia and throughout northeastern and central Pennsylvania.  In addition to representing many notable property owners, John has completed multiple tenant representation assignments for regional, national and international clients.
 

Prior to joining Colliers, John was a partner at SSH where he opened and led their suburban office for 4+ years.  Prior to SSH, John spent 11 years at GVA Smith Mack, where he was a top producer in their suburban office and received the "Largest Transaction" award in 2005.

View expert