CARRIAGE SQUARE SHOPPING CENTER SOLD
KW Commercial, The Daniel Perich Group facilitates sale
KW Commercial, The Daniel Perich Group is pleased to announce the sale of Carriage Square at 674 Route 196 in Tobyhanna, PA. Managing Director, Daniel Perich, CCIM along with Robert Velez of KW Commercial, The Daniel Perich Group facilitated the transaction.
Carriage Square is a 16-unit, 65,000 square foot shopping center anchored by Rite Aid and Aaron’s located in Coolbaugh Township, Pennsylvania. Tenants include Family Dollar, H&R Block, Subway, pizzeria, tobacco store, hair salon, and Chinese restaurant. The shopping center is situated at a lighted intersection surrounded by Pocono Farms residential development.
Coolbaugh Township offers numerous opportunities for recreation including the Tobyhanna State Park. Tobyhanna Army Depot, one of the largest employers in Northeastern Pennsylvania calls the township home. The major 5 points intersection of State Routes 611, 940 and 196 is 3 miles south of this property. Nearby area attractions include Kalahari Resorts, Pocono Manor Resort, Great Wolf Lodge and Mt. Airy Casino Resort. Sanofi Pasteur, Pocono Mountain School District, and The Crossings Premium Outlets are also in close proximity. Major area developments include the proposed $400 million Pocono Springs Entertainment Village and 130,000 square foot expansion of Kalahari Resort’s convention center.
The buyer, a regional investment group, plans on bringing a new management approach to the center. In addition to investing in the current structure, they have hired an engineer to work on expansion plans in order to attract larger tenants to serve the local community better.
KW Commercial, The Daniel Perich Group has been retained by the new ownership to represent the leasing of Carriage Square. Available spaces range from 850 to 22,697 square feet. For more information, contact KW Commercial, The Daniel Perich Group at (570) 213-4900 or visit www.dpcomgroup.com.
