PENNSYLVANIA BROKER OF RECORD
REALTY MARK ASSOCIATES
Property Description: 

Capital Commercial Partners is pleased to bring to the market this Michael’s Stores Condo located at the Columbia Mall in Bloomsburg, PA. The investment offers a corporate guaranty from Michael’s Stores, Inc. The tenant executed a new 10-year net lease with an
expected rent commencement of September 2024. The mall is undergoing a complete transformation to 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.

The property is in close proximity to Bloomsburg University with a student enrollment of approximately 9,600 students with 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. Bloomsburg is located in Columbia County and is 40 miles from Wilkes-Barre. It’s the county seat and the only incorporated town in PA.

This is a unique opportunity for an investor to acquire a great location, excellent return, corporate guarantee, tremendous upside with the mall redevelopment, and at only $173.43 per square foot; substantially below replacement cost of more than $200 PSF. The condo will be completely renovated with new roof, HVAC, and parking lot.