Colliers Arranges $5M Lehigh Valley Retail Deal
- May 13, 2020
Colliers International has completed the $4.5 million sale of Bethlehem Village Shoppes, a 31,450-square-foot multi-tenant shopping center in Bethlehem, Pa.
Senior Vice Presidents Jeff Algatt and Derek Zerfass, along with Vice President Scott Horner, represented the seller, a private investor. W.C. Weiss of Equis Commercial Real Estate assisted the 1031 exchange buyer. QNB Group provided acquisition financing.
Located at 3650 Nazareth Pike, Bethlehem Village Shoppes is leased to a diverse roster. Tenants include Painting with a Twist, Mitzi’s Table, Revolution Styling, Kumon, H&R Block, the Northampton County Court of Common Pleas and Atlantic Aquatic. The property is 1 mile from Lehigh Valley Thruway, in a dense residential area. Downtown Bethlehem is 4 miles away.
The new owner has retained Zerfass and Horner to spearhead leasing services. Prior to the sale, the duo was in charge of leasing on behalf of the previous owner as well. In April, another Colliers team arranged the $7.4 million sale of a fully leased retail property in Austin, Texas.