Tuesday, September 1, 2015

PREIT Sells Mattress Warehouse in Lancaster

by Steve Lubetkin, Globest.com
PREIT has sold the site of theMattress Warehouse property at 1831 Hempstead Roadin Lancaster, PA to a private investor, David Roeberg for an undisclosed amount.
Mattress Warehouse remains as the tenant, with 10 years remaining on its current lease.  Mattress Warehouse is located in a 6,000 square foot building as an outlot in a 1.84 acre shopping center.
“A property like this, with a strong-credit, corporate-owned retailer like Mattress Warehouse with a long-term lease in effect, was bound to attract significant interest. This site is adjacent to other strong national retailers, including Costco, Lowe’s, and Best Buy. Combined with its easy access and high visibility to the US-30 Bypass, the fundamentals for both the property and the region are strong.”
The Mattress Warehouse property is located at the corner of Hempstead Road and Pitney Road just off of Route 30. It is situated along a high-traffic retail corridor in Lancaster County. The company opened its first retail location in 1989 in Frederick, MD, and now has more than 180 stores throughout the east coast. 1831 Hempstead Road is one of the company’s newest locations.

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