After purchasing underutilized site only 18 months prior, PH Retail arranges NNN lease and development of popular fast food restaurant
PH Retail, an affiliate of leading-edge real estate company Post Brothers, today announced the sale 2610 MacArthur Road, a 4,815-square-foot retail property in Whitehall, Pennsylvania. The freestanding building, situated on an outparcel of MacArthur Towne Center — home to national retailers Walmart, Sam’s Club, Dick’s Sporting Goods and Lowe’s – is now occupied by best-in-class food operator Chick-Fil-A in a triple-net lease.
PH Retail originally acquired the property in February 2015 after it had fallen into disrepair following the departure of a prior restaurant. Recognizing the site’s prime location nearby major thoroughfares and retail centers, the company quickly secured Chick-Fil-A as its new tenant following the acquisition. PH Retail led the subsequent demolition of the existing structure, in addition to securing approvals for the development of the new freestanding Chick-Fil-A structure.
“At this site, we were able to recognize an underutilized site, identify a world-class tenant, and ultimately help to create a high-performing asset,” said Randy Hope, co-founder and managing director of PH Retail. “The sale of this building is a reflection not only of this transformation, but also of the continued demand for stable, triple-net leased buildings.”
The restaurant, which opened in September, is situated nearby Route 22 at a rare full-access intersection. The location allows for easy access to I-78 and I-476, and is minutes away from Allentown and Bethlehem.
As an opportunistic investor, PH Retail identifies properties that possess untapped potential, and optimizes their performance through capital improvements and innovative leasing strategies. PH Retail delivers on its vision with a meticulous and keen attention to even the smallest details, from responsibly sourced building materials to efficiently designed buildings, which enhance the customer experience.
AboutPHRetail
Founded in 2015,PHRetailis a vertically integrated real estate company that invests inretail properties for which value can be enhanced through capital improvements and innovative leasing strategies. Based in Philadelphia, Pa.,PHRetail actively invests in key metropolitan markets throughout the Northeast. An affiliate of leading multifamily owner/developer Post Brothers,PHRetailowns and operates a portfolio valued in excess of $100 million. For more information, visit www.phretailpartners.com.
