Shop n’ Save Center

Greensburg, Pennsylvania

Offering Summary

  • Status: active
  • Price: $10,585,000
  • CAP Rate: 8.50%
  • GLA: 191,645 SF
  • Net Operating Income: $901,344
  • Price/SF: $55.23
  • Year(s) Built: 1965
  • Year(s) Renovated: 1995
  • Lot Size (Acres): 16.99
  • Major Tenants: Shop 'n Save, Ollie's Bargain Outlet, Dollar Tree, Aamco Transmissions, Subway, Fantastic Sam's
  • 100% 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 12.6% and Year 1 Total Return of 17.9% 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
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director