Larken Associates’ newest asset in Bethlehem, Pennsylvania boasts more than 102,000 sf (+/-) of renovated residential and commercial space for lease with panoramic views of the Lehigh Valley. The ten-story Pinnacle @ 65 building offers 48 newly constructed luxury apartments for rent and 38,000 sf (+/-) of commercial office and retail space for lease at 97% occupancy. It represents a Class A value-add opportunity for Larken Associates in one of the fastest growing submarkets in the United States. The New Jersey based developer acquired The Pinnacle @ 65 from Post Road Management in late November 2018 for an undisclosed price.
The building underwent a full renovation in 2017, providing a more contemporary and modern feel. Significant upgrades were made to the exterior facade, windows, high-end main lobby, common area corridors, restrooms and building access system. A new HVAC system was also added.
CoStar named The Pinnacle @ 65 a 5-star multi-family asset, making it the only one within the Lehigh Valley. It offers residents one, two or three-bedroom apartments for rent at competitive rental market values. Each unit boasts open-plan living, modern stainless steel appliances, in-unit laundry and market-leading finishes like white waterfall quartz countertops, wine coolers and Smart Home Nest Learning Thermostats. Residents are given amenities such as laundry/dry cleaning pick-up and drop-off, private storage units and a convenient package concierge system.
The first four floors of The Pinnacle @ 65 feature 20 professional office and medical space for rent with just two vacancies at less than 1,900 sf (+/-) combined, and a ground floor retail suite. Santander Bank recently renewed their lease highlighting the tenant’s success in the location. J.B. Hunt, offering advanced supply chain solutions throughout North America, occupies nearly 4,500 sf (+/-) on the building’s second floor. The growing supply chain corporation ranked 395th on the 2018 Forbes’s 500 list.
The Pinnacle @ 65 offers residential and commercial clients off-street parking and an in-house bank. Amenities include a conference room, eat-in kitchen, fitness center and community lounge/game room.
Bethlehem, PA is just six minutes from Allentown at the center of a growing market in the Lehigh Valley, well situated between two major metropolitan centers - Philadelphia and New York City. The Lehigh Valley offers easy access to several major interstates, including the Pennsylvania Turnpike and Interstate 78. Local businesses include distribution and manufacturing hubs for Fortune 500 companies like Coca-Cola, Air Products, B. Braun, Ocean Spray, Samuel Adams, Olympus and Kraft. It is home to nearly 840,000 residents and is attracting more residents every day through quality of life and job creation. Nearly 25,000 new jobs have formed in the Lehigh Valley within the past six years.
As one of the Lehigh Valley’s most exciting mixed-use, high rise assets, The Pinnacle @ 65 bolsters Larken Associates’ varied and consistently expanding property portfolio. For commercial leasing information regarding The Pinnacle @ 65, call Larken Associates at (908) 874-8686, or visit www.LarkenAssociates.com.
About Larken Associates
A two-generation, family-owned business since 1965, Larken Associates is widely recognized as one of the region’s fastest growing and most well-respected real estate firms. Based in Branchburg, NJ, Larken is responsible for developing and managing prominent residential and commercial projects throughout New Jersey, New York and Eastern Pennsylvania.