96.91% Occupied, 191,645 SF Grocery-Anchored Community Shopping Center in Greensburg, PA
Anchored by Shop ‘n Save Supermarket (26% of GLA) – Leased to NNN Terms Thru June 2028
Offering Consists of 5 Individual Retail Buildings Situated on 3 Parcels Totaling 17 Acres
Shop ‘n Save is a Privately-Held Grocery Chain Supplied by SuperValu; Based in Pittsburgh with 74 Locations Throughout Western PA, West Virginia, New York, Ohio, and Maryland
Co-Anchored by Ollie’s Bargain Outlet (21% of GLA) – Tenant Since 2004 Leased to NNN Terms thru February 2024
Other Larger Tenants Occupying 20,000 to 35,000 SF Include SeaBase Family Fun Center (Tenant Since 2003) and Westmoreland Casemanagement and Supports, Inc. (Tenant Since 2005)
Notable Small-Shop Tenants Include Dollar Tree, Boost Mobile, Fantastic Sam’s and Subway
Freestanding AAMCO Total Car Care Included in Sale – Leased thru March 2026
Offered Well-Below Replacement Cost at $55/SF
Cheap/Replaceable Rents of $5.03/SF NNN ($6.98/SF All-in) and Low Operating Expenses of Only $2.19/SF
All Tenants are Subject to Pro-Rata NNN Leases – 100% Recapture of RET, CAM, and INS Expenses; Only Slippage is Non-Reimbursable CapEx and Management Fees
Offers Year 1 Cash-on-Cash Return of 12.65% and Year 1 Total Return of 18.01% with Proposed Financing Terms
Located Along E Pittsburgh Street with Strong Traffic Counts of 34,200 VPD, Just West of the Primary Retail Corridor Serving the Eastern Side of Greensburg
Located Near the Center Mass of Greensburg’s Population with Infill Demographics – 8,033 Residents within 1-Mi
Middle-Income Demographics: 5-Mile Population of 69,256 with AHHI of $83K
Greensburg, PA – County Seat of Westmoreland County, Part of the Pittsburgh MSA which is Home to a Population of more than 2.3 Million, Less than 15 Miles East of Pittsburgh Suburbs