Overview

Description

Capital Commercial Partners is pleased to bring to market Columbia Regional Mall, a 400,000 +/- SF regional mall on 34.95 acres located in the path of all new development in Bloomsburg, PA. The investment offers an unprecedented opportunity for a complete transformation of the mall through adaptive reuse. Link to register for the auction and get a complete due diligence package is below:

https://rimarketplace.com/auction/1754/huge-upside-value-add-regional-mall-bloomsburg-pa

The overall mall redevelopment plan is for an open air lifestyle center. The plan includes full de-malling with removal of all common area interior corridor spaces. The hospital campus is expected to bring 2,000 new employees and the mall redevelopment and hospital campus will be pedestrian between the two developments making very easy to work and live surrounded by amenities all within walking distance.

Geisinger Health Systems paid $19M for two adjoining sites to build a new hospital campus.

The demand for space is going to skyrocket over the next 6-12 months in order for tenants to be near the new hospital campus.

Webstaurant recently completed it’s 540,000 SF logistics facility across the street due to its strategic location at the crossroads of I-80 & Route 42 and its close proximity to the eastern seaboard.

The mall sits just off the I-80 interchange with 35,000 vehicles per day and 11,000 vehicles per day on Route 42. It is close to Bloomsburg University with a student enrollment of approximately 9,900+ students. Bloomsburg U has a storied history being founded in 1839. It’s the 3 Rd largest of the 14 universities in Pennsylvania. It made the list of top universities in the northern region according to U.S. News and World Reports annual rankings.

Highlights

• Rare opportunity to redevelop and control 363,000 SF regional mall on 34.9 acres
• Geisinger Health Systems just closed on land adjoining the mall for $19M to develop a new hospital campus
• Cost to duplicate 363,000 SF is in excess of $80M
• Newly executed leases from Michael’s Stores, EFO Furniture, and Ollie's with more coming in
• Working on leases with Primanti Brothers and Jersey Mike's for a new 12,000 SF center on a mall pad

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