Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA
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Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA A Highway Land Development Opportunity OFFERING MEMORANDUM Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NON-ENDORSEMENT NOTICE Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Route 309 Development Site TABLE OF CONTENTS Section 1 EXECUTIVE SUMMARY Section 2 PROPERTY DESCRIPTION Section 3 DEMOGRAPHIC ANALYSIS EXECUTIVE SUMMARY Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA EXECUTIVE SUMMARY EXECUTIVE SUMMARY Marcus & Millichap, as exclusive agent for the Seller, is pleased to present this exciting opportunity for highway oriented mixed use development. The Site has just become available and is being offered unpriced with bids requested subject to each investor’s particular vision for the Site’s ultimate build out. In this offering the Property is referred to as "Route 309 Development Site“ to highlight its unique location in exclusive northern Bucks County and along the extraordinarily busy Route 309 that boasts an eye popping 41,000 vehicles per day. The Site is suitable for a variety of commercial as well as senior living / retirement village. As a shopping center, this Property can accommodate 300,000 square feet of GLA. Summary information is noted below with a more detailed narrative and relevant data included in the following pages. Summary Property Route 309 Development Site Property Address 1711 Bethlehem Pike Hilltown, Bucks County, PA 19440 Price Request For Offer Lot Size (SF) 2,482,920 Lot Size (Acres) 57.0000 Buildable SF 2,482,920 Lot Dimensions Rectangular Type of Ownership Fee Simple Site Description Assessor's Parcel Number 15-32-1;2;3;15-22-195, + Zoning Planned Commercial PC-1 Taxes $69,760 Tax Year 2014 Frontage Route 309 & Swartley Road Utilities Water, sewer, electric, gas, cable Traffic Counts 41,000 vehicles per day Adjacent Development Hilltown Crossings Shopping Center LoanFIRSTFinancingAll Cash Type TRUST DEED This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0300356 Marcus & 1 Millichap. All rights reserved. Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA EXECUTIVE SUMMARY INVESTMENT OVERVIEW Investment Highlights ■ ■ ■ ■ ■ ■ ■ ■ Route 309 Development Site is a 57 acre development tract located along Pennsylvania Route 309 in Hilltown Township, Bucks County, Pennsylvania. Currently, a furniture store, restaurant / pub and other miscellaneous uses occupy the Site. The acreage has excellent highway exposure making it an ideal location for big box and pad retail, outpatient health care, hospitality and senior living uses. The Property has over 900 linear feet of frontage along Route 309 and 1,400 linear feet along Swartley Road. A new signal is proposed for Route 309 and Swartley Road affording easy and complete access.. Along Route 309 in this location, the Annual Average Daily Traffic count is an extraordinary 41,000 vehicles per day. The Site is a few hundred feet from the rejuvenated Hilltown Crossings Shopping Center which incudes a 205,000 square foot Super Walmart and a 62,000 square foot Burlington Coat Factory as anchors. Pad sites include McDonalds and Santander Bank. Total GLA is 344,460 square feet with 1,429 parking on roughly 34 acres. Route 309 Development Site is 4.5 miles north of the Montgomeryville Mall. Under current zoning PC-1, the Site may be developed in a broad number of ways, including shopping center, hotel, healthcare, nursing home and senior living / retirement village. Key development standards in the PC-1 District are maximum building height of 35 feet, and maximum lot coverage of 70 percent. Electric service is available through PECO. Public water and sewer are also available at the Site's perimeter. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0300356 Marcus & 2 Millichap. All rights reserved. Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA EXECUTIVE SUMMARY INVESTMENT OVERVIEW Land uses such as the following appear to be appropriate for the Site and this market. Retail Shopping Center Bank Convenience Store Discount Store Dining: Casual and Quick Service Drug Store Grocery Hardware / Home Improvement Sporting Goods and Equipment Outdoor/Hiking and Camping Hunting Fishing Boating Recreational Vehicles Hospitality Limited Service Hotel Budget Motel Office (Retail Oriented) Professional Medical/Healthcare/Urgent Care Senior Living / Nursing Home Retirement Village This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0300356 Marcus & 3 Millichap. All rights reserved. Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA EXECUTIVE SUMMARY REGIONAL MAP This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0300356 Marcus & 4 Millichap. All rights reserved. Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA EXECUTIVE SUMMARY LOCAL MAP This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0300356 Marcus & 5 Millichap. All rights reserved. PROPERTY DESCRIPTION Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA Route 309 Development Site HILLTOWN, BUCKS COUNTY, PA PROPERTY DESCRIPTION SITE PLAN AERIAL This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is