3 National Tenant Power Center | Johnstown, PA
8% Cap | Recently Extended Leases
Marketing description
AMC Real Estate Investment Services is pleased to present this 100% occupied ±61,968 SF three-tenant power center located at 590 Galleria Drive, Johnstown, PA. Anchored by Dunham’s Sports and leased to Staples and Verizon, all tenants have recently executed 5-year lease extensions, providing stabilized cash flow and a ±5.1-year WALT. Staples has operated at the site for 32+ years, with Dunham’s Sports in its 27th year of occupancy, demonstrating long-term site durability.
The property features rare US-219 frontage with exposure to 30,000+ VPD and signalized access at the Galleria Drive interchange (14,000+ VPD). In-place rents are below market. Offered at an 8.0% cap rate, this is a stabilized, institutional-quality power center in a supply-constrained retail corridor.
Investment highlights
• Recent 5-Year Extensions: All tenants recently extended, reducing rollover risk and stabilizing cash flow
• Proven Tenant Longevity: Staples (33 years), Dunham’s Sports (27 years), Verizon (recent extension)
• Strong Sales Performance: Dunham’s Sports reports strong annual sales
• Landlord-Friendly Leases: Pass-through and fixed reimbursements provide predictable income and easy management
• Rare US-219 Frontage: Limited frontage in a high-traffic, established retail corridor
• Institutional Power Center: Low-vacancy junior-box format with strong national tenant demand
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