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|Call for Offers||2022-06-08|
Jones Lang LaSalle Americas, Inc (“JLL”) is pleased to exclusively offer Kendig Square, a 186,749 square foot, grocery anchored shopping center located in Willow Street, Pennsylvania. The 95% Occupied Property is anchored by Weis Markets, a dominant grocer in Central Pennsylvania, who has over 30 years of tenure at the Property. Weis accounts for over 24% of the Property’s gross income, alongside a complementary, service-oriented tenant lineup that features PA Wine & Spirits, Dollar Tree, Rite Aid and other modern retail uses that include food and beverage, discount retail, beauty and more.
The Property provides investors a tenant lineup with over 5.5 years of weighted average lease term with over 89% of income derived from credit and national tenancy. In addition, tenants with 20+ years of tenure at the Property account for over 53% of the Property’s income. Kendig Square is a well-positioned grocery anchored shopping center that has a premium roster of long-term inline tenants, with strong national brand recognition.
STRONG GROCERY ANCHOR WITH DOMINANT REGIONAL PRESENCE
- 82nd percentile for Weis Markets in the United States
- Top 25 most visited Weis Markets in the state of Pennsylvania out of 101 locations
- 551K visits over 12 months
COMPLEMENTARY MERCHANDISING MIX WITH HIGH TENURE TENANCY AND STRONG BRAND RECOGNITION
- 16 tenants with over 20 years of tenure at Property
- 15+ years weighted average lease tenure
- 5.5 years weighted average lease term
- 93% of gross income from grocery, discount, food & beverage, service-oriented & medical uses
- 83% of gross income from national tenancy