Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

Enter the "Deal room" for exclusive documents related to this property.

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 1998
Building Area
Land Area

Property Description

JLL is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Boscov’s in Butler, Pennsylvania, which is 27 miles north of Pittsburgh and a part of the city’s MSA. Boscov’s has been an anchor tenant at the Clearview Mall since 1998 and recently exercised their first of five (5), five (5) year options, demonstrating their continued commitment to the area. Boscov’s is currently paying a net rent of $3.43 per square foot, which is below replacement cost and gives the new owner of the 200,000 square feet building flexibility and potential rental upside.


Boscov’s benefits from its excellent accessibility to a large consumer draw, as it sits along PA Route 8 (22,000 vehicles per day) and is attached to the Clearview Mall. National and renowned retailers such as Dollar General, Wendy’s, ALDI, Advance Auto Parts, Texas Roadhouse, Rural King, Eat’n Park, Giant Eagle, and Sheetz are within a mile from the premises, further driving customers to the area.


Boscov’s is America’s largest family owned department store. The company operates nearly 50 stores across the states of Pennsylvania, New Jersey, Maryland, New York, Connecticut, Delaware, Ohio and Rhode Island. Each store contains "virtually everything", according to current CEO, Jim Boscov. The company not only sells clothing and shoes for all genders and ages, but it also has a candy department, beauty and cosmetic shop, houseware items, jewelry and more.

Investment Highlights

  • Boscov’s has been an anchor tenant at the Clearview Mall since 1998 and recently exercised their first of five, five (5) year options, demonstrating their continued commitment to the area
  • The property benefits from its excellent accessibility to a large consumer draw, as it sits along PA Route 8 (22,000 vehicles per day) and is attached to the Clearview Mall
  • Boscov’s is currently paying a net rent of $3.43 per square foot, which is below replacement cost and gives the new owner of the 200,000 SF building flexibility and potential rental upside
  • National and renowned retailers such as Wendy’s, Dollar General, ALDI, Advance Auto Parts, Texas Roadhouse, Rural King, Eat’n Park, Giant Eagle, and Sheetz are within a mile from the premises, further driving customers to the area
  • Butler, PA is a part of the Pittsburgh MSA, which includes more than 2.3 million people and the city of Pittsburgh has received numerous accolades such as: #1 city for starting a business (Kiplinger), #1 city that appeals to millennials (Apartment List), and #3 markets to watch (Urban Land Institute)
Last Updated Date: 07 Oct 2020
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+63282312281
Last Updated Date: 07 Oct 2020

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.