January 31, 2020 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of the Downtown Mall in Meadville, Pennsylvania. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $6,350,000.
The Downtown Mall is located at 920 Water Street in Meadville, PA. The grocery anchored Property totals 166,633 square feet of gross leasable space and includes two outparcels – Tops Supermarket, which leases a 48,800 square feet stand-alone building through June of 2027 and the Meadville Area Ambulance Service which leases a 7,200 square foot flex-building through September 2028. In addition to the anchor grocery store, the Downtown Mall has been strategically tenanted and includes Big Lots, Dollar General, PA Fine Wine & Spirits, H&R Block, and many more service-oriented tenants that meet the needs of the area residents. The property offers excellent visibility along French Creek Parkway, multiple points of access, ample parking and excellent signage opportunities. The area’s Greyhound Bus Stop, providing both local and national service, is also located at the entrance to the Downtown Mall, helping drive additional foot traffic.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.