Larken Associates Acquires 210,000 Square Foot Shopping Center in Lehighton, PA
Larken Associates, a regional leader in commercial and residential real estate building, development and management, announces the acquisition of Carbon Plaza, a 210,314-square-foot shopping center located at 1241 Blakeslee Boulevard Drive E in Lehighton, Pa. Colliers International’s Jeff Algatt, Scott Horner and Derek Zerfass represented the seller and Larken Associates in the transaction.
Located in the heart of Carbon County, the grocery-anchored shopping center is situated just outside of downtown Lehighton along the area’s heavily traveled Route 443 retail corridor with over 20,300 cars passing by per day. This prime location also features easy access to the area’s major highways including Interstate 476 and Route 209. Boasting excellent visibility and an abundance of parking, Carbon Plaza is home to a diverse array of retail tenants including Big Lots, Giant Grocery, Lehigh Valley Health Network, Dollar Tree, and Rite Aid as well as FunTime Cinemas, the region’s only movie theater. In addition, Carbon Plaza features several local and global food establishments including Chiu Kwan Kitchen and Pizza Como USA, as well as national brands such as Taco Bell, Arby’s, and McDonald's. Coupled with its superb location, Carbon Plaza’s versatile retail options offer an undeniably ideal shopping experience to every one of its visitors.
“The acquisition of Carbon Plaza presents our team with a unique opportunity to take advantage of the exceptional market that is Carbon County and tap into what we believe will be a vibrant future for the area,” said Victor Kelly, Executive Vice President of Larken Associates. “We look forward to leveraging our retail property management and leasing experience to unlock the full potential of this property and attract even more exciting businesses for the people of Lehighton Borough and beyond to enjoy for years come.”
The acquisition of Carbon Plaza marks a key addition to Larken Associates’ Pennsylvania retail portfolio. In the past twenty years, Carbon County’s ample developable land and well-connected infrastructure have seen its population grow at a rate over three times greater than Pennsylvania itself. Within this market, Carbon Plaza is in an ideally accessible location with over 11,000 people living within a three-mile radius. This number nearly doubles when brought to a five-mile radius, illustrating the sizeable population of prospective customers for Carbon Plaza’s 20-plus retail, food and entertainment options.
Known for a combination of charming downtowns and a bustling industrial market surrounded by the Pocono Mountains, Carbon County is one of Pennsylvania’s most lively regions. Paired with the county’s convenient location to the region’s employment centers and readily available transportation options to cities such as Philadelphia and New York City, Carbon Country prides itself on the high quality of life it offers residents. Lehighton’s success is illustrative of the growth of Carbon County as the development of housing has stimulated an influx of individuals and families looking to move into the area. Accompanying these newcomers are plans for a new generation of hospitality accommodations, restaurants and entertainment options. The area’s demographic shifts not only highlight the rising popularity and quality of living in Carbon County, but underscore Carbon Plaza’s potential in terms of location and future growth in the coming years.
About Larken Associates
Larken Associates is a regional leader in commercial and residential real estate building, development and management. Leveraging over 50 years of experience, they are dedicated to bringing great spaces to live and work to life through a long-term ownership strategy and full suite of in-house capabilities. With a diverse commercial portfolio consisting of nearly three million square feet and 800 tenants across office, industrial, retail and mixed-use and approximately 2,000 owned and/or managed residential rental units across 22 unique communities, Larken Associates is deeply committed to the communities in which they work as well as the tenants and residents who call their buildings home. To learn more about Larken Associates, please visit us at https://www.larkenassociates.com/ and follow us on LinkedIn, Facebook, Twitter, and Instagram.