LS Property Investments Acquires 101,651-Square-Foot Grocery-Anchored Retail Property In Allentown, Pennsylvania For $17.8M

A grocery-anchored shopping center in Allentown, Pennsylvania, has been sold for $17,800,000. The property is located at 3227 Hamilton Boulevard and spans 101,651 square feet. The transaction took place on December 4, 2023. LS Property Investments, represented by Suresh Kagithapu, acquired the property from Joshi Hotel Group, represented by Vikas Joshi.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $17,800,000
• Address: 3227 Hamilton Boulevard, Allentown, PA
• Market: Allentown
• Buyer: LS Property Investments - Suresh Kagithapu
• Seller: Joshi Hotel Group - Vikas Joshi
• Brokers: Brad Nathanson & JP Colussi - Institutional Property Advisors - Marcus & Millichap

The shopping center is situated in a high-growth submarket near Dorney Amusement Park, attracting significant nationwide interest in the property. IPA, representing the seller, Joshi Hotel Group, successfully secured the buyer, LS Property Investments.