Westporte Centre
300 West Main Street, Middletown, PA 17057
PROJECT OVERVIEW
Landmark Commercial Real Estate is pleased to present the Westporte Centre. This ± 45,000 SF regional shopping center has recently undergone significant renovations, positioning it as a solid asset for investors. Improvements include a new state-of-the-art façade, upgraded parking facilities, and HVAC units throughout. The potential for expansion further adds to its value, offering investors a versatile asset that aligns with mid-state market demands. Over the next 14 to 20 months, the property is poised for substantial upside, driven by scheduled increases in rental rates and additional opportunities for rate adjustments, making it an attractive prospect for those seeking a sound and potentially lucrative investment.
Highlights
Features a strong national, regional, and local tenant mix including: USPS, Wells Fargo, True Value, Drayer Physical Therapy, The Hop Yard, and Tony’s Pizza.
Center is excellent condition. Full renovations completed recently including, exterior facade, parking lot repaving, roof & HVAC.
Substantial Upside – Some tenants will experience rent rate increase due in the next 14-20 months, with opportunity for rent increases for remainder of tenants.
Excellent location adjacent to Penn State Harrisburg Campus (± 5,000 students); off-campus student housing, and Amtrak Middletown Station.
PROJECT ABSTRACT
Property Information | |
---|---|
List Price | $7,800,000 |
Building Size | 43,506 SF |
Units | 10 |
Land SF | 171,626 |
Acres | 3.94 |
Zoning | C-1 Commercial -Shopping |
Property Type | Shopping Center / Retail |
Parcel No. | 41-001-008 |
Occupancy | 88.00% |
Tenancy Type | Multi-Tenant |
Cap Rate | 7.35% |
DEMOGRAPHICS
Middletown, Pennsylvania is situated in Dauphin County, and is a vibrant and welcoming community with a rich history and a promising future. It is the oldest town in Dauphin County and located just south of Harrisburg, along the Susquehanna River. The Borough is full of diverse historic architectural styles. The town’s proximity to major transportation arteries, including Interstate 283 and Route 230, makes it an ideal location for commuters and businesses. The Harrisburg International Airport is just minutes away, offering convenient air travel options. Middletown is experiencing steady growth and development, with a focus on enhancing infrastructure, amenities, and services to meet the needs of its expanding population.
BY THE NUMBERS | 1 MILE | 3 MILES | 5 MILES |
---|---|---|---|
Population | 7,495 | 24,595 | 57,236 |
Employees | 5,228 | 10,453 | 20,556 |
Households | 3,861 | 11,321 | 25,098 |
Income | $44,428 | $55,230 | $61,959 |
AMTRAK MIDDLETOWN STATION:
The Middletown Amtrak station is located directly across the street from the Nittany Village student housing complex at the
south end of campus, near the Westporte Centre Shopping Plaza. A new, ADA compliant station facility opened at this location in January 2022 and features covered stairs, elevators, and a pedestrian bridge to the platform.
Penn State Harrisburg
Penn State Harrisburg is the largest and most comprehensive of Penn State’s Commonwealth Campuses and is located in close proximity to this Main St property.
An undergraduate college and graduate school, Penn State Harrisburg offers more than 75 academic programs and is the only campus, along with University Park, to offer degrees from the associate to doctoral levels.
Penn State Harrisburg currently offers several undergraduate and graduate programs via Penn State’s World Campus. The college’s academic units are divided into five schools: Behavioral Sciences and Education; Business Administration; Humanities; Public Affairs; and Science, Engineering, and Technology.
AVAILABILITY
Listing Agents
Thomas Posavec, SIOR
Senior Vice President – Corporate Services Group
Landmark Commercial Realty
O: 717.731.1990
tposavec@landmarkcr.com
Roy Brenner
Vice President – Corporate Services Group
Landmark Commercial Realty
O: 717.731.1990
rbrenner@landmarkcr.com
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