Larken Associates, a regional leader in commercial and residential real estate building, development and management, announces it has negotiated a 4,256-square-foot restaurant lease with Steak & Steel Hibachi and a 1,080-square-foot hair salon lease with Catalina Dry Bar at 3 West Broad Street in Bethlehem, PA. The two retail leases bring the office and retail building to full occupancy. Lisa Meszler Lyon of ALT Realty serves as exclusive leasing broker for the building and represented Larken Associates in both transactions.
Constructed in 1980, 3 West Broad Street is a two-story, 105,866-square-foot office and retail building that was acquired by Larken Associates in 2019. Located just steps from Main Street in downtown Bethlehem and easily accessible from Route 22 and Interstate 78, the now fully leased property is home to a diverse range of office and retail tenants including PowerSchool, Twisted Olive, I.R.S. and Intelliquip.
Larken Associates is currently executing an ambitious capital improvement plan to modernize the building and cement its status as one of the Lehigh Valley’s premier office and retail destinations. Managed by Core Enterprises, Larken Associates’ in-house construction team, the interior renovations will include the replacement of outdated escalators with a new electric traction 4 stop elevator and a floating atrium staircase. In addition, the building’s common areas will receive extensive finish upgrades. The exterior of the building will also be brought up to modern standards through the addition of new wood façade accents and the replacement of railings, paint, caulk, lighting, and signage. The capital improvements are scheduled for completion in Spring 2022.
“With a wide range of entertainment, dining and shopping opportunities, highly favorable demographics and a growing employer base, Bethlehem continues to be primed for long-term prosperity,” said Rob Marek, Executive Vice President of Raider Realty, the in-house brokerage division of Larken Associates of Larken Associates. “Through our capital improvements and hands-on leasing at 3 West Broad Street, we aim to capitalize on the long-term growth potential of the city as we create the premier retail and office destination in the market.”
To learn more about 3 West Broad Street, please visit https://www.larkenassociates.com/commercial-leasing/3-west-broad-street or contact Rob Marek at (908) 874-8686.
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.