Current Inventory

Regional VA Medical Condo For Sale

600 Galleria Drive, Johnstown, PA, 15904
  • Agent(s):
    Kyle Hartung
  • Name:
    Regional VA Medical Condo For Sale
  • Address:
    600 Galleria Drive, Johnstown, PA, 15904
  • Total SF:
    57,021
  • Option:
    For sale
  • Category:
    Investment Sales

» Full Offering Memorandum

Details

For sale is a three-tenant condominium comprised of Planet Fitness, a regional VA Outpatient Clinic, and one vacancy, in Johnstown,Pennsylvania. Planet Fitness is operated by one of the largest franchisees in their system with over 59 clubs open. The VA Clinic provides perfect synergy with Planet Fitness, allowing veterans to exercise and visit the clinic all in the same visit. Both tenants have at least five years of history in the property in addition to staggered lease terms. Significant upside exists with leasing the 12,542 SF space ideal for climate controlled warehouse or storage. No proforma rents have been used for this space, rendering it as pure upside for the new owner. The property is being conveyed as a condo with this property being roughly 49% and the adjacent property 51%. This structure will allow the investor to remain relatively hands-off if they desire. The property is situated on the pad of the Galleria Mall at the confluence of US Highway 219 and Galleria Drive. With over 1.4 million square feet of nationally-leased retail in this development, it has become the primary destination for over 130,000 people in the trade area. In addition to the subject shopping center, other tenants include Lowe’s, Home Depot, Ashley Homestore, Dunham’s, Tractor Supply, Staples, Boscov’s, JCPenney, Books a Million, Taco Bell, Red Lobster, Burger King, McDonald’s, Aldi, Applebee’s, Verizon, Perkins, Primanti Brothers, Sheetz, and more.

Location

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