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Retail
Richland Town Center
Johnstown, PA
289,624 SqFt
Built in 2005
Suburban Core
Investment Highlights
- 98 Percent Occupied, 289,624-Square-Foot Walmart- Shadowed Power Center in Johnstown, Pennsylvania
- Shadowed by #2 Walmart in Pennsylvania (133 Stores) with 3.4 Million T12 Customer Visits; Top 3 Percent Nationally (Source: Placer.ai).
- #3 Most Heavily Trafficked Shopping Center in Western Pennsylvania / #9 in All of Pennsylvania; 6.4 Million Visitors in 2024 (Placer.ai, Excludes Malls/Lifestyle- Centers)
- 5.0 Year WALT / Recent (2024) Anchor Lease Extensions from Ross & TJX/HomeGoods / Six of Eight Largest Tenants Leased to 2030 or Beyond
- Existing, Assumable Non-Recourse CMBS Debt: $25.15 Million / 6.69 Percent Interest Rate / 4/2034 Maturity | 30 Year Amortization
- 96 Percent Recovery of Real Estate Taxes/Insurance/Common Area Maintenance Expenses; 93 Percent Triple-Net Leases with 5-15 Percent Administrative Fees on Common Area Maintenance
- Below-Market Rents: $9.98 per Square Foot Average Anchor Rent / $19.65 per Square Foot Average Small-Shop Rent. 84 Percent of Gross Leasable Area is Leased to National Retailers (26 of 33 Tenants).
- Junior-Box Tenants Include a Who's Who of Category-Leading National Retailers: TJX/HomeGoods, Best Buy, Ross, Michaels, Dollar Tree, Petco, Ulta and Five Below. Richland Mall Cinemas – Freestanding First-Run Movie Theater In-Place Since Original 2003 Development (In Business Since 1949); On Triple-Net Lease thru 11/2033.
Broker of Record
Timothy B. Stephenson Jr.
Regional Manager
Related Research
Richland Town Center
