{"id":1004155617,"date":"2016-10-14T11:42:14","date_gmt":"2016-10-14T19:42:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004155617"},"modified":"2020-05-10T21:38:52","modified_gmt":"2020-05-11T05:38:52","slug":"ph-retail-sells-chick-fil-a-in-suburban-allentown","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ph-retail-sells-chick-fil-a-in-suburban-allentown\/","title":{"rendered":"PH Retail Sells Chick-Fil-A in Suburban Allentown"},"content":{"rendered":"<p><em>By Adriana Pop<\/em><\/p>\n<div id=\"attachment_1004155659\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004155659\" data-attachment-id=\"1004155659\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ph-retail-sells-chick-fil-a-in-suburban-allentown\/chick-fil-a\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg\" data-orig-size=\"1920,1002\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Chick-Fil-A\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The proposed design for the new Chick-Fil-A restaurant at 2610 MacArthur Road in Whitehall, Pa.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg?w=1024\" class=\"size-medium wp-image-1004155659\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg\" alt=\"The proposed design for the new Chick-Fil-A restaurant at 2610 MacArthur Road in Whitehall, Pa.\" width=\"300\" height=\"157\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg?resize=300,157 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg?resize=768,401 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg?resize=1024,534 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Chick-Fil-A.jpg?resize=1536,802 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004155659\" class=\"wp-caption-text\">The proposed design for the new Chick-Fil-A restaurant at 2610 MacArthur Road in Whitehall, Pa.<\/p><\/div>\n<p><strong>Whitehall, Pa<\/strong>.\u2014<a href=\"https:\/\/phretailpartners.com\/\" rel=\"nofollow\" target=\"_blank\">PH Retail<\/a>, an affiliate of <a href=\"https:\/\/www.postrents.com\/\" rel=\"nofollow\" target=\"_blank\">Post Brothers<\/a>, has announced the sale of a freestanding building at 2610 MacArthur Road in Whitehall Township, Pa. According to <em><a href=\"https:\/\/www.mcall.com\/business\/retail\/mc-chick-fil-a-whitehall-building-sale-20161006-story.html\" rel=\"nofollow\" target=\"_blank\">The Morning Call<\/a><\/em>, the company sold the property for $2.4 million, three times more than what the firm paid for it 18 months prior.<\/p>\n<p>The 4,815-square-foot retail development is now occupied by Chick-Fil-A under a triple-net lease. PH Retail acquired the property in February 2015, after it had fallen into disrepair following the departure of a prior restaurant.<\/p>\n<p>Following the acquisition, the company secured Chick-Fil-A as a new tenant, demolished the old structure and secured approvals for the development of the new building.<\/p>\n<p>The new Chick-Fil-A restaurant, which opened in September, is situated on an outparcel of MacArthur Towne Center, which is home to national retailers Walmart, Sam\u2019s Club, Dick\u2019s Sporting Goods and Lowe\u2019s. The property is also located nearby Route 22 at a rare full-access intersection and allows for easy access to I-78, I-476, Allentown and Bethlehem.<\/p>\n<p>\u201cAt this site, we were able to recognize an underutilized site, identify a world-class tenant and ultimately help to create a high-performing asset,\u201d Randy Hope, co-founder &amp; managing director of PH Retail, said in prepared remarks. \u201cThe sale of this building is a reflection not only of this transformation, but also of the continued demand for stable, triple-net leased buildings.\u201d<\/p>\n<p>Earlier this summer, <a href=\"https:\/\/www.commercialsearch.com\/news\/preit-sells-downtown-philly-retail-properties-to-ph-retail\/\" target=\"_blank\">PH Retail purchased two retail buildings<\/a> in downtown <a href=\"https:\/\/www.commercialsearch.com\/news\/philadelphia\/\" target=\"_blank\">Philadelphia<\/a> for $45 million.<\/p>\n<p><em>Image courtesy of PH Retail<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After purchasing the site in 2015, PH Retail has arranged a triple-net lease and new development for the popular fast food restaurant. <\/p>\n","protected":false},"author":260,"featured_media":1004155659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21742,10,21749],"tags":[],"class_list":["post-1004155617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-latest","category-northeast","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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