236 W Allegheny Ave, Philadelphia, PA 19133

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer Plaza Allegheny (the “Property”), a 67,125 square foot, grocery-anchored shopping center located in Philadelphia, PA. The 98.5% leased property was developed in 2017 to serve an exceptionally dense, infill population with over 60,000 people within one-mile and 425,000 people within a three-mile radius. The center was purpose-built on an 8.5 acre site as a grocery-anchored development to address an immediate need within the growing trade area, as it is located in a market widely considered a “food desert”. Save A Lot has performed well at this location, with their most recent sales volume reported at $6.03M - leading to a recent early extension taking their term through November-2030. Beyond the grocer, the center is anchored by strong destination-oriented credit and regional tenancy including Advance Auto, Santander Bank, Little Caesars, and multiple suites occupied by Maria De Los Santos Medical Center – a dominant area healthcare provider under the Delaware Valley Community Health organization.

Plaza Allegheny provides investors with a tenant lineup of +7.1 years of weighted average tenure, demonstrating commitment to the center and an opportunity to selectively increase rents and update the tenant mix as users roll to market. The center benefits from an e-commerce resistant tenant lineup with 7 different merchandising types and contemporary retail uses including grocery, service-oriented, food & beverage and more. Additionally, the center’s location offers exceptional urban connectivity, located just a three-minute walk from SEPTA’s Allegheny Station, one of the transportation line’s busiest stations given it provides direct subway access to Center City.

As an additional value-add component, there is an opportunity to acquire a 2-acre parcel positioned on 2nd Street (current owner is negotiating with a non-profit organization to subdivide and sell that portion of the parcel, though a sales contract has not yet been agreed to), and the adjacent 86,415 square foot industrial building which is occupied by two retail tenants and presents multiple redevelopment scenarios. Please inquire for additional information on these sites.