PENNSYLVANIA BROKER OF RECORD:
REALTY MARK ASSOCIATES

Property Description: 

UPDATE: Amazon just purchased a data center in Berwick less than 15 miles from the interchange for $650M. TikTok and Meta are both building 1M SF data centers around it. Several new townhome and apartment developments are going in on sites surrounding the mall creating significantly more demand within the submarket.

TRAFFIC: Placer.ai data shows 842,000 monthly site visits at the interchange with Columbia Mall receiving 246,000+

The subject property is an Ollie’s located at the Columbia Mall in Bloomsburg, PA. The investment offers a new 8-year lease with corporate guaranty from Ollie’s (NASDAQ: OLLI) $7.4B market cap and above market return. The tenant opened for business on November 20, 2024 with rent commencement of December 1, 2024. Ollie’s has been incredibly busy since they opened demonstrating an accurate sales forecasting model of strong store sales.

The mall continues the process of being completely transformed into an open air lifestyle mixed use center. Geisinger Health Systems is developing a hospital campus adjoining the mall and will be pedestrian between the two developments. This will make it very easy to work, live, and shop all in the same place.

This is a unique opportunity for an investor to acquire a great location, excellent return, corporate guaranty, tremendous upside with the mall redevelopment, and at only $85.95 per square foot; substantially below replacement cost of more than $200 PSF. The condo has been completely renovated with new roof, HVAC’s, plumbing, electrical, and parking lot.

The condo will be completely renovated with new roof, HVAC’s, and parking lot.