Marcus & Millichap Sells Parkway Shopping Center In Allentown For $12.5M

Located at 1471 Lehigh Street in Allentown, PA, the Parkway Shopping Center was recently sold for $12.5 million. This retail property spans 133,314 square feet and has seen significant improvements and tenant consolidation efforts in the past five years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $12,500,000
• Brokers: Colin Reder, Derrick Dougherty, Scott Woodard - Marcus & Millichap
• Mortgage Brokers: Ian Nordfors & Neil Campbell - Institutional Property Advisors
• Square Footage: 133,314
• Price Per Square Foot: $94

The sale of the Parkway Shopping Center was managed by Marcus & Millichap's Philadelphia office, with IPA Capital Markets providing debt financing for the buyer.