Property Listing No Longer Available for Sale

4076 Jandy Boulevard, Nazareth, PA

Retail for Sale - $2,588,235 - 10,000 Sq. Ft. on 160 acres


Property Info

CIMLS#431455
Location
  4076 Jandy Boulevard
  Nazareth PA 18064
UpdatedAugust 17th, 2012
TypeRetail
Price$2,588,235
Building10,000 Sq. Ft.
Land160 acres

Property Description

The subject property is situated on Jandy Boulevard between Easton Nazareth Highway (SR 248) and Nazareth Pike (SR 191), on the outskirts of the town of Nazareth, pinned perfectly between the town's neighborhood shopping center and the region's dominant power center. Both of these retail nodes generate substantial traffic along Route 248, Route 191 and Jandy Boulevard. As evidence of the area's continued growth, only one mile to the east at Route 248's intersection with Route 33, a new retail development is nearing completion with a Super Wawa and several restaurant pads. On the opposite side of the Route 33 Interchange, there is a Wegmans and a power center with Staples, Redner's Warehouse Market, Regal Cinemas, Sears Hardware, Sam's Club, Walmart Supercenter and Kohl's. Population growth the surrounding five-mile radius is projected at a solid 8 percent over the next five years.

Nazareth, a borough in Northampton County, Pennsylvania, is located seven miles northwest of Easton, four miles north of Bethlehem and twelve miles northeast of Allentown. It is located in the center of Northampton County and is part of Pennsylvania's Lehigh Valley Region. Nazareth is quickly being devoured and turned in to close sitting lots of suburban housing, designed especially to accommodate the massive influx of New Jersey and New York City residents. Continuing into current years, population and new construction have expanded greatly. This new expansion and housing boom was made possible by the local completion of the interstate system highways. In the Nazareth area, this was caused by the completion of the nearby Pennsylvania Route 33, which ran north and south, thereby connecting Interstate 78, U.S. Route 202, and Interstate 80 (all of which run east-west), and the completion of the Interstate 78 southern Lehigh Valley corridor high speed interstate which connected the Lehigh Valley to New Jersey and New York to the east , with Harrisburg and Pittsburgh to the west.


Financials

Marcus & Millichap offers for sale this 10,000 square foot, freestanding building with an additional 5,000 square foot play area leased to The Learning Experience. The tenant has signed a new 15 year double net lease (landlord responsible for roof and structure) with three, five year option periods. During the base term of the lease and the option periods, the base rent shall increase by 10 percent every five years. The lease carries a corporate guarantee for the first five years of the lease, and up to $500,000. The developer completed construction on the property and rent commenced in March 2009. The nearest competitor is a Goddard School, located on Sullivan Trail (Route 115) in Easton, approximately 5 miles from the subject property. Other competitors include a Chesterbrook Academy in Bethlehem and a KinderCare in Allentown. In an 18 mile radius, there are approximately twenty school or church-based child care facilities. TLE has over 200 sites operating or currently under development in 28 states, and is currently the fastest growing childcare center operator in the United States. For Full Offering Memorandum Contact Listing Agent.



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