Friday, June 18, 2010

St. Luke's Hospital Purchases Wind Gap Retail for $4.2M

"St. Luke's Hospital acquired the Laneco Plaza at 487 E. Moorestown Road in Wind Gap, PA, from Country Junction for $4.2 million, or $37 per square foot.

The 114,238-square-foot shopping center was built in 1975 on 22.69 acres. At the time of the sale, the center was mostly vacant, with only Ashley Furniture and Sal's Pizza as tenants.

St. Luke's Hospital will be converting part of the property into an emergency care center. The renovations have started and are slated to be finished by September."

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