Property Description: 

Capital Commercial Partners is pleased to bring to the market this Arby’s Ground Lease located on a pad to the Columbia Mall in Bloomsburg, PA. The mall is in the planning stages for conversion into a lifestyle mixed use development with up to 375 “Class A” multifamily units. The mall is surrounded by national tenants including Home Depot, Lowes, Walmart, Starbuck’s and many others.

This investment offers a brand new 20 year unsubordinated ground lease with 10% rental increases every 5 years. The tenant is one of the largest franchisees in North America; the Parikh Network with stakes in Arby’s, Dunkin Donuts, and Popeyes. The lease is guaranteed by an entity operating 34 Arby’s and 19 Popeyes restaurants in Pennsylvania, Maryland, New York, and New Jersey. The seller expects to deliver the pad in March/April for the tenant to start construction and will escrow one year of rent or $80,000 for exchange buyers that need to close before rent commences.

DEMAND FOR SPACE: The seller is negotiating numerous new leases at the mall including Michael’s, 5 Below, and several others. The demand for space is going to skyrocket over the next 6-12 months in order for tenants to be located near the new hospital campus. The campus has been designed to be pedestrian between the two developments. The adjoining land to the mall sold to Geisinger Health Systems for $19M for a new hospital campus.

Webstaurant recently completed its 540,000 SF logistics facility across the street demonstrating the growth of whats to come at this interchange.

The property is strategically located at the crossroads of I-80 and Route 42. It sits just off the I-80 interchange with 35,000 vehicles per day and 11,000 vehicles per day on Route 42. It is close in proximity to Bloomsburg University with a student enrollment of approximately 9,900+ students. Bloomsburg U has a storied history being founded in 1839. It’s the 3rd largest of the 14 universities in Pennsylvania. It made the list of top universities in the northern region according to U.S. News and World Reports annual rankings.