Address: 5345 Route 30 , Greensburg, Pennsylvania, United States 15601
Type: Net-Leased Professional Office / Medical Office
Cap Rate: 6.50%
Lease Type: Net Lease
Annual Rent: $89,068
Net Operating Income: $89,068
Lease Term Remaining: 8+ Years
Rental Increases: $1/SF in Year 6 and Each Option Period
Options: Two (2), Five (5)-Year Options
Year Built: 2008/2017
Rentable Sq/Ft: 3,181 SF
Rent Sq/Ft: $28
Price Sq/Ft: $431
Lot Size: +/-0.78 Acres
This DentalWorks property is located at 5345 U.S. Route 30 in Greensburg, Pennsylvania. Greensburg is the county seat of Westmoreland County and located approximately 30-miles East of Pittsburgh. Greensburg is one of the seven largest cities in Pennsylvania in terms of daytime growth.
The subject property is situated just along U.S. Route 30, where the majority of the retail development is focused. U.S. Route 30 features an average daily traffic count that exceeds 49,340 vehicles. U.S. Route 30 turns into E Pittsburgh Street if traveling West towards Pittsburgh. East Pittsburgh Street also features a high average daily traffic count of approximately 43,343 vehicles. There are approximately 37,360 individuals residing within a three-mile radius of this DentaWorks and over 61,500 individuals within a five-mile radius.
The subject property benefits from being positioned within a dense retail corridor consisting of a variety of local and national tenants. Major national tenants include: Walmart Supercenter, Lowe’s, Home Depot, Sam’s Club, Giant Eagle Supermarket, CVS, Chick-fil-A, Starbucks, McDonald’s, and many more. Located directly adjacent to this DentalWorks is the Westmoreland Mall, which features over 1,287,620 SF of retail space. The Westmoreland Mall is one of the three largest shopping centers in Western Pennsylvania and the largest in terms of number of stores. A proposed $152 million casino will be built in the former Bon-Ton building that is set to open in late 2019. Located just over two miles from this DentalWorks is Westmoreland Hospital. The hospital is part of the Excela Health System and features a bed count of over 373 beds staffed by approximately 1,400 employees. There are two Universities located within a four-mile radius of this DentalWorks. University of Pittsburgh Greensburg and Seton Hill University have a combined annual enrollment that exceeds 3,180 students.
Greensburg is a major business and cultural center in Western Pennsylvania. The city relies heavily on its light to moderate industry and service industries, which thrive in Greensburg. Healthcare is another major industry in Greensburg. In 2015 the Greensburg Community Development Corporation created a special health care zoning district in an attempt to spur medical development around the Westmoreland Hospital. In 2016 the prestigious Westmoreland Museum of American Art underwent a major renovation, adding to the cities architectural diversity. Westmoreland County has a consistently low unemployment rate each year. Greensburg has historically been the center of commerce and banking in Westmoreland County.
Broker of Record: Anthony Palumbo – License # RM423958