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Weis Plaza and Airport Village

15260-15262 Kutztown Rd Kutztown, United States 19530
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1984
Building Area

Property Description

Airport Village, a 70,531 square foot, grocery anchored shopping center located in Coatesville, Chester County, Pennsylvania and Weis Plaza, a 115,359 square foot, grocery anchored shopping center located in Kutztown, Berks County, Pennsylvania. The 93.1% occupied Airport Village is anchored by Aldi, a leading national grocer projected to be the third largest grocer in the country by store count by the end of 2022, alongside a credit tenant lineup that includes Dollar Tree, Rite Aid, Verizon and US Renal Care. The 95.9% occupied Weis Plaza is anchored by the regional grocer Weis Markets, which has operated at the Property since its construction in 1976, and accounts for over 45% of the Property’s gross income. 


The Offering provides investors the opportunity to acquire two high-performing grocery-anchored centers with an ideal anchor to in-line ratio that limits big box risk and features a strong history of high occupancy. The complementary merchandising mix alongside both performing grocery anchors creates a sense of place in the communities that both properties serve. 


Airport Village is strategically located along Route 30 / Lincoln Highway (+11,715 VPD) and enjoys high roadway visibility and an extremely loyal consumer base. The tenant lineup is highly resistant to e-commerce, and with discount merchandise and fitness uses alongside service-oriented and food and beverage operators, the Property has performed extremely well through the coronavirus pandemic.


Weis Plaza is located under two miles from Kutztown University of Pennsylvania in Kutztown, PA and attracts a highly captive audience with Weis Market, a regional grocery anchor headquartered in Central Pennsylvania with over 45 years of tenure at the Center that recently exercised a 5-year renewal. The Property features a highly complementary tenant lineup alongside Weis Markets in discount merchandising and fitness alongside necessity and service-oriented uses that include auto repair and food and beverage offerings. 

Investment Highlights

  • Regional & National Grocers with 56 Combined Years of Tenure
  • National Tenants Account for 67% of Gross Income; Grocers Account for 32% of Gross Income
  • Highly Fungible, E-Commerce Proof Tenant Lineups Featuring National Credit Tenants and Service-Oriented Uses
  • Excellent Regional Connectivity and Access to Transportation Infrastructure in the Philadelphia MSA and Lehigh Valley
  • Solid Real Estate Fundamentals with High Roadway Visibility and Limited Competition

Chris Munley

Senior Managing Director

T +1 484 532 4207

M +1 609 610 1096

c.munley@am.jll.com


Jim Galbally

Senior Managing Director

T +1 215 988 5551

james.galbally@am.jll.com


Colin Behr

Senior Director

T +1 215 399 1819

M +1 215 896 4253

colin.behr@am.jll.com

Last Updated Date: 01 Mar 2021
Chris Munley
Chris Munley
Senior Managing Director, Capital Markets
License details
NJ-0683560 PA-RS314499
James Galbally
James Galbally
Senior Managing Director, Capital Markets
License details
PA - RS295928

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Last Updated Date: 01 Mar 2021

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