1199 East College Avenue Commercial Space for Lease

1199 EAST COLLEGE AVENUE COMMERCIAL SPACE FOR LEASE

OFFERING MEMORANDUM

SALES AGENT: ADDITIONAL CONTACT: 315 S. ALLEN ST., STE. 325A MICHAEL R. BAKER CHRISTIAN T. AUMILLER STATE COLLEGE, PA 16801 717 994 7232 717 348 8016 814.571.3440 [email protected] [email protected] www.pkarealty.com CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY AND DISCLAIMER STATEMENT

Intended solely for your own limited use to determine whether you wish to express any further interest in the Property. This confidential memorandum contains brief, selected information pertaining to the business and affairs of the Property and has been prepared by PKA Realty Advisors & Brokerage, primarily from information supplied by the Owner. Although this confidential memorandum has been reviewed by representatives of the Owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective purchaser may require or desire. Neither the Owner, nor any of its officers, directors, employees or agents, nor PKA Realty Advisors & Brokerage, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto. Prospective offers are advised to verify the information independently. The Owner reserves the right to change the price or any information in this Memorandum, or to withdraw the Property from the market at any time, without notice. This confidential memorandum shall not be deemed an indication of the state of affairs of the Property or the Owner, nor shall it constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from PKA Realty Advisors & Brokerage.

POOLE, KARCH & AUMILLER PAGE 2 TABLE OF CONTENTS

> EXECUTIVE SUMMARY...... 4 > PROPERTY OVERVIEW

PROPERTY DETAIL...... 6 LOCATION OVERVIEW...... 7 ROADWAY IMAGES...... 8 BUILDING IMAGES...... 11 > MARKET OVERVIEW

AREA OVERVIEW...... 14 DEMOGRAPHIC OVERVIEW...... 16 TRANSPORTATION ACCESS...... 17 > ZONING OVERVIEW

ZONING MAP...... 19 EXECUTIVE SUMMARY

PKA Realty Advisors & Brokerage is pleased to present for lease 1199 East College Avenue, State College, PA 16801 (“the Property”).

The Property is located along one of State College’s busiest roadways, College Avenue, just east of Downtown State College and Pennsylvania State University. INVESTMENT HIGHLIGHTS The Property is within short driving distance of the University Park Airport. > High visibility along busy College Avenue.

The commercial space is ideal for a small, > Strong demographics and growing market. retail shop looking for good frontage and high exposure along College Avenue. > Close proximity to Downtown State College, Pennsylvania State University, and the University Park Airport.

> Zoning: GC (Gateway Commercial)

CALL FOR MORE INFORMATION

POOLE, KARCH & AUMILLER PAGE 4 PROPERTY OVERVIEW

1199 EAST COLLEGE AVENUE STATE COLLEGE, PA 16801 PROPERTY DETAILS

PROPERTY DETAILS

List Price $10 / sq.ft.

1199 East College Avenue Legal Address State College, PA 16801

Tax ID Number 19-012-,018-,0000-

4,880 sq. ft. (per tax card) Available Lease Space NOTE: The house behind the commercial building is not included (crosshatched area)

Zoning GC (Gateway Commercial)

Township College Township

Lease Terms Triple-Net Lease (NNN)

S-Bound College Ave: 10,417 Traffic Count (ADT) N-Bound College Ave: 9,976 Puddintown Rd: 1,939

Taxes $7,287.05 (2020) (full parcel)

POOLE, KARCH & AUMILLER PAGE 6 LOCATION OVERVIEW The Property is located in College Township along College Avenue, at the intersection of College Avenue and Puddintown Road, east of Downtown State College and Pennsylvania State University. The asset offers a highly visible retail space with frontage along one of the busiest roadways in State College, specifically on Saturdays during the college football season. The area is served by the Interstate 99, University Park Airport, and the Centre Area Transportation Authority (“CATA”). The site is between Pittsburgh and Philadelphia markets and their corresponding international airports.

6/2/2020 Google Earth

100% Camera: 4,105 ft 40°48'38"N 77°50'29"W 1,066 ft

https://earth.google.com/web/search/1199+East+College+Avenue,+State+College,+PA,+USA/@40.80811,-77.83485581,297.14857978a,954.05878076d,35y,-0h,0t,0r/data=CigiJgokCdfA8kCZvDpAEUcFvjx28CXAGaBV… 1/1

NEARBY CITIES DISTANCE DRIVING TIME Philadelphia 191 miles 3 h 8 min

Pittsburgh 138 miles 2 h 22 min

Harrisburg 86 miles 1 h 29 min

New York City 252 miles 4 h 3 min

POOLE, KARCH & AUMILLER PAGE 7 COLLEGE AVENUE - SOUTHBOUND

POOLE, KARCH & AUMILLER PAGE 8 COLLEGE AVENUE - NORTHBOUND

POOLE, KARCH & AUMILLER PAGE 9 PUDDINTOWN ROAD

POOLE, KARCH & AUMILLER PAGE 10 BUILDING IMAGES

POOLE, KARCH & AUMILLER PAGE 11 BUILDING IMAGES

POOLE, KARCH & AUMILLER PAGE 12 MARKET OVERVIEW

STATE COLLEGE PA AREA OVERVIEW

ABOUT STATE COLLEGE PENNSYLVANIA

State College, PA, is the largest borough in the State of Pennsylvania and centers primarily around Penn State University, one of the largest universities in the country; Penn State boasts an overall enrollment of just shy of 100,000 students, with over 45,000 students calling Main Campus in State College their home. Penn State combines the academics of a top-tier research university CENTRE COUNTY LARGEST EMPLOYERS with the athletic programs for mens and womens sports that rival any other university, most famously their Blue COMPANY PRODUCT/SERVICE & White Nittany Lion Football Team that draws over The Pennsylvania State University University 100,000 fans to Beaver Stadium, making State College the third most populated city in the state on home- Mount Nittany Medical Center Medical game Saturdays in the fall. State Government Government

State College Area School District School District

Glenn O. Hawbaker, Inc. Industrial

Wal-Mart Associates, Inc. Retail Services

County of Centre Government

Mount Nittany Medical Center Health Services Medical

Weis Markets, Inc. Food Services

Geisinger Clinic Medical

Federal Government Government

Bellefonte Area School District School District

Wegman’s Food Markets, Inc. Food Services

AccuWeather, Inc. Commercial

Shaner Operating Corporation Hospitality

Restek Corporation Manufacturing

POOLE, KARCH & AUMILLER PAGE 14 AREA OVERVIEW CENTRE COUNTY ECONOMY

The economy of Centre County was originally built around Penn State University. However, State College has grown to be more than simply a “college town,” but instead as developed into one of the densest cities of its population size in the entire U.S. Newly constructed high rises continue to be sandwiched between College Avenue and Beaver Avenue, adding to the population center that drives Centre County.

Over the last ten years, the area has seen a construction boom, with several mixed-use towers being developed, including the 12-story Metropolitan building in 2017 and the 12-story mixed-use building The Rise in 2018. Penn State University continues to be the largest employer in the area, providing significant academic and technological research for private firms, government agencies, and the public.

Additionally, Centre County has seen employment and population growth of 9% and 13.9%, respectively, with each barometer outpacing the rest of the State of Pennsylvania by roughly 4%. Such robust growth continues to increase the economic outlook for State College and Centre County for years to come.

Other industries include government and government related enterprises, health care and social assistance, retail trade, hospitality and food services, professional, scientific and technical services, manufacturing, and construction.

DEMOGRAPHIC SNAPSHOT (2018 Estimates) LOCAL AMENITIES 1. Penn State University Campus 9. Tussey Mountain Ski Resort 2. Downtown State College Nightlife 10. Penn State Berkey Creamery 3. Mount Nittany 11. Pennsylvania Military Museum 4. Whipple Dam State Park 12. Local Breweries and Wineries 5. State College Spikes Minor League Team 13. The Arboretum at Penn State 6. Multiple 18-Hole Golf Courses 14. Fisherman’s Paradise Fishing Area Population Housing Units Median Income 7. Beaver Stadium & Penn State Football 15. Greenwood Furnace State Park 162,805 67,144 $58,055 8. Millbrook Marsh Nature Center 16. Palmer Art Museum

POOLE, KARCH & AUMILLER PAGE 15 DEMOGRAPHIC OVERVIEW |

KEY FACTS EDUCATION

High School Graduate or Higher 162,805 5.7% Population Pop. Growth (2010-2018) 94.3%

Bachelor’s Degree or Higher 2.47 $58,055 Persons Per Median Household Household Income 44.7% BUSINESS HOUSING $ 3,361 46,119 57,908 $966 $271,284 Employer Establishments Total Employment Household Median Gross Rent 2018 Average Home Sale Price

POOLE, KARCH & AUMILLER PAGE 16 TRANSPORTATION ACCESS

CENTRE AREA TRANSPORTATION AUTHORITY (CATA) The Centre Area Transportation Authority (“CATA”) is a joint municipal authority serving the six (6) municipalities that form the Centre Region (College, Ferguson, Halfmoon, Harris, and Patton Townships, and State College Borough), Bellefonte Borough, Spring Township, and Benner Township. CATA provides a wide area of safe, reliable, and affordable means of transportation, including bus and shuttle services, as well as ridershare services, to the Centre Region, as well as extended services to Bellefonte, Pleasant Gap, and Stormstown. Whether you’re a fifth-year senior, local business executive, or a visitor for the day, the user-friendly maps and schedules allow for easy transportation all across State College and its surrounding areas.

UNIVERSITY PARK AIRPORT Built in the 1950’s and located only several miles from downtown State College, University Park Airport has grown to be the sixth (6th) busiest airport in Pennsylvania in 2018. With an easy-to-navigate terminal and ample parking, University Park Airport services Delta, American Airlines, United, and Allegiant, enabling the airport to provide daily flights to Philadelphia, Chicago, and Washington D.C. (Dulles), as well as non-stop flights to Orlando, FL and Tampa, FL. Taxi services, limousine services, and car rental services are also available for arrival or departure from University Park Airport.

UBER / LYFT RIDE-SHARING SERVICES Uber and Lyft are at the forefront of ride-sharing services that have quickly taken over the transportation market in State College, offering easy-to-use apps for students, locals, and visitors alike to make their way around the bustling social scene throughout the Centre Region. As an off-shoot, Uber Eats has also made a home in State College, offering food delivery service to local restaurants for late nights at the office or group study sessions at the HUB-Robeson Center. With many students looking for part-time, on-the-go work, the number of drivers offering Uber and Lyft rides will only continue to grow.

POOLE, KARCH & AUMILLER PAGE 17

COLLEGE TOWNSHIP ZONING MAP About this map...

This is to Certify that this is the

RR Official Zoning Map of the Township of College, reffered to in Article II,

Section 3 of Ordinance No. 59 of C1 PRBD The Township of College, Centre County, Pennsylvania. Effective

September 8, 1977, amended as

noted in the chart below. e k i P r

Sh e n Tra il n R2 o R1 e h n St B sfe A s R i d e r Rd b v el RO A College Township ib e e g r le 1481 E. College Ave. D ol R3 C State College, PA 16801 E

t Rd Phone: (814) 231-3021 d Summi R Fax: (814) 231-3020 d t R u ro k T c o R R2 Julian

Mountain F Laurel Dr Dr C1

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ville R u b UPD a L Ste

va ser h n e no Hou Mitch R e l ks R In A O ide M d ve c e Ge to Dr a Subdistrict 14 Old Mil b e r d PRD r r D o Lexington Cir al w Heather Cir d l Rd Tug s R w St PRBD e Short St Cir a F e 2643 Gateway Dr., Suite 4 C g a e i w Rd r a ir t r n l D

llo a Ln D r I1 State College, PA 16801 Sp w ns Rd F h orst ial n nh ve r ring Ku Buche Phone: (814) 231-3050 Big Ho A e A ust

St v d e Clyd n n I Fax: (814) 231-3083 Shawn Cir lvd n ns t ok L l B ea bo S R1 ro Str l Ree ib oll Fairla rcia ro G t ch nb u a S S b C se UPD Pe l e Rd H w n Comme R o d Ave u ' se Wild Rose 5 ' Subdistrict 14 0 2 r Way 5 2 vi 4 Oak Ln ll e low Mea il r R W W R1 70' ir D Manor Dr d C i Rd e

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l g o Hicko do id e B w v o r R A w Ln y tt A a D ll w ir r o e F o f D v Le vi C1 o d r g H x e in n R rin ta Jalice C H Sp un Jay L o n o ll M o w r w D o ill R t H Hospita n y d i v UPD I R2 d l Rd e d Patrick Cir Pu Wa Ab lker erde RO First Av Subdistrict 11 Dr en Ln

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UPD rd R l W d G r o g M e a r c D G e u H f Sub- v f a A C w i Avalon Dr Matilda k r t r h a RO o W P r P

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e e r G Ordinance

r r D a S

r Grove OSD n t 14 dview A Number Date Revision

R1 v

e Mulbe Cir Ln e UPD r ik d 63 06/08/78 R1 to R2 (19-5-21) da P R e w H C e i i r C V l l ry Ln Ba l v t o i ir 06/12/78 RR to R3 (19-605-001A) h e C UPD gat v t e w h t Subdistrict 9 ZONINGDr e ig l r s Dale S R A a 64 08/10/78 R3 to C1 (South Ridge Inn) L d v en e G Subdistrict or D Wayne St r

y St Oakmont Dr ay R2 to C1 & I1 (east side of E. College Ave from Rd Watkins Rd W Mt. Nitt k 69 04/12/79 o an sze E y St l 8 o mw St br ood St Pike Street to Limerock Terrace) OVERVIEWll l n i Curtin A L Hen M son s y i r r r r Ave e 70 06/14/79 F to I1 (Reese Rd) & A to R2 (Everhart Village) V a mp H b nia l t P i H l u Ma o R3 l D ry S r ylva M t t s r Tho e Sh 74 02/12/81 MHP to R2 (Hill Dr) r R nn ad rry S U d GC Pe y n UPD Dr Be i e Elm St Wh 59A 04/22/82 A to C1 v v itehill St e A Sq r e M s Hasting g F it u e 59B 12/29/82 U to C1 y Subdistrict le r l i r ' D o r y r C r H C

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e r 0 i . t 0 0 v i lan ' E l ll d 59B 12/29/82 U to UR e s Rd R 0 D C ir 5 d 5 r n L tt St 59K 10/09/86 A to RR & A, R2, RR to RO in b rtle a Cortlan Ba Jo C na b Oa Rainlo th 59L 01/27/87 UR to RO (19-12-10, 19-12-11 & 19-12-12) e a d Dr on l S Peach Ct UPD Subdistrict 5 S d kwo B t OSD R o 10/18/87 RO, R3 & RR to PRD (Windmere) od St al ock Av h sb c Norle S u Apple Ct OSD e n Dr rg n St amr a R 03/10/88 A to C1 (Darlington Tract) r d d e Av Rd ldwi R Sh B th n dg e t Ba Du E be

re bl O-89-02 03/09/89 PRD to R1 & RO (Clover Highlands)

g e k Ri in r v R

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k L Rd 03/29/90 A & RR to PRD (Canterbury Crossing approved)

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ri rd

m R1 0

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o Sp v 06/14/90 R1 to PRD (Springfield Trails PRD)

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2 ldfin 4

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ch Dr C 1 COLLEGE TOWNSHIP 0 O-91-12 09/24/91 Corridor Overlay District

Villand 2 ry Blvd 1

C UR to C2 (19-3-21, 19-3-21A & portion of 19-3-

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0 m 100)

C o ' n o St n Charle u t O-92-02 02/13/92 F to I1 (Reese Rd) n A t r RR v y rry L ward e Rd C alley O-92-11 10/22/92 RR to RO (19-605-51 & 19-605-53) l Ed V u sh b Bru

R Maybe O-93-01 01/28/93 F to I1 (portion of 19-4-78) d

aym O-93-06 06/10/93 A to R2 & A to R3 (19-2B-76) H ak er D r Hun O-93-08 10/21/93 A to R1 (19-19-66) ter Ave

Sena I1 O-94-01 01/27/94 A to R1 (19-4-11) ca A Cir

d 07/12/94 Correction to Village Zone Haymaker R Cir n Tulira L o i O-94-04 06/23/94 A to R1 (19-5-32) n B n oalsburg Rd L

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b d y l e

l Grant St n I1 to C1 (19-4-27, 28 & 14C; 19-8-101, 101A & a

Gree L H O-94-06 11/17/94 B ib e al nb r l ria ty R 102) r Dr S d t

A O-95-03 03/09/95 I1 to C1 (19-8-103B & 104B) O-96-03 04/04/96 PRD to R1 (Springfield Trails)

09/05/96 MHP to C1 (portion of 19-12-9) d R1

Legend R PRD O-98-14 10/15/98 F to RR (CCSWA Lease Area) h c e Dr

n Cliffsid n a 07/01/99 Correction to R1 in Mt. Nittany Terrace

Perennial Streams r L Parcel Boundaries e Way

B R3 Dr y nc y r re E r o C1 to GC, R1 & R3 to OSR (creation of Gateway e u l n F M ere Dr e b m c s c O-00-03 05/18/00 A C Wind S a District) B n R1 r n a D Roads & Hwys r nd r C2 to RO (19-3-21, 19-3-21A, portion of 19-3-100 D B y w e r r a D i Expressway n e n & 19-2B-85) & C2 to C1 (19-2B-1, 19-2B-3, 19-2B- Local Streets in e idg dy w O-01-04 05/17/01 R D d Dover Cir 6, 19-2B-7, 19-2B-9, 19-2B-10, 19-2B-11, 19-2B- Arterial Streets Neighborhood Streets r R r no lling d a 24) C1 o RO Reg R Collector Streets All other streets R ent Ct RO RR RO to PRD and PRD to RO (19-605-33 & 19-605- Breo (private, alleys, etc) O-03-12 05/15/03 C2 S r Ath a D n 32) ert m M on ra St St no a Warnock Rd a p P l

Zoning Districts e O-03-14 08/07/03 R3 to R2 (Independence Place Phase II)

L n

Corridor Overlay District RO Residential Office d O-04-12 08/19/04 UR to UPD (adoption of UPD) R

r e l O-05-07 02/03/05 A to R1 (19-6-6A) b C1 General Commercial u R1 Corridor Overlay District r H H ar O-06-12 03/16/06 UPD to RO (Mt. Nittany Medical Center) r D ri te s R d Ou d O-06-10 06/15/06 UPD corrections (see Ord. No. O-06-10) A Agricultural C2 Office Commercial l R xt al E PRD h r te D hi W. Outer Dr Oa ty O-09-03 02/05/09 RO and UPD to MC (Mt. Nittany Medical Center) F Forest GC Gateway Commercial District W si W k Po er iv inte n U S Outer Dr O-10-01 02/02/10 RR & Ag to R1 (19-6-007) RR Rural Residential MC Medical Campus District C ir O-10-05 08/05/10 C1 & R1 to R3 (19-2B-35 & 19-2B-36)

OSD Open Space District PRBD Planned Research & Business d C1 to R2 (19-8-101, 19-8-101A, 19-8-103, 19-8- R Park District O-10-11 11/18/10 ch 104B) R1 Single Family Residential an I1 r General Industrial B O UPD Subdistrict 5 to UPD Subdistrict 9 (Pegula R1 O-11-01 02/17/11 R2 Two Family Residential R2 A Ice Arena) UPD University Planned District Wildot Dr Feet 02/02/12 R1 to PRD (The Retreat at State College PRD)

R3 Mulit-Family Residential dy St r 0 900 1,800 3,600 5,400 D o t e ild W O-12-07 12/20/12 Wellhead Protection Overlay District created UPD Special Zone Campb nn Ke Dr W 07/19/12 R1 to PRD (State College Retreat) V Village an o 1 inch = 900 feet ell Rd o Ron d UPD Transitional Zone s O-14-03 02/20/14 R1 to GC (19-13-051) R PRD Planned Residential Development d Projection: State Plane NAD 83, North Zone O-14-07 09/05/14 MHP & R2 to GC and OSR (Hilltop area)

UPD Subdistrict Boundary Tussey Ln Map prepared by: Mark Holdren, Sr. Planner, The Centre Regional Planning Agency UPD Subdistrict 7 to UPD Subdistrict 8 (Water MHP Mobile Home Park R2 O-14-16 11/20/14 Treatment Facility) Date Prepared: April 3, 2018 O-15-11 11/19/16 A to PRBD, C1 & R2 (Shiloh Rd Area) Data Source: The Centre County GIS Project The Land Analysis Laboratory O-18-02 2/15/2018 R2 to I1 and R1 (Ruetgers Property) The Centre Regional Planning Agency

ZONING

POOLE, KARCH & AUMILLER PAGE 19 SALES AGENT:

MICHAEL R. BAKER 717 994 7232 [email protected]

ADDITIONAL CONTACT:

CHRISTIAN T. AUMILLER 717 348 8016 [email protected]

315 S. ALLEN ST., STE. 325A STATE COLLEGE, PA 16801 www.pkarealty.com 814 571 3440

POOLE, KARCH & AUMILLER PAGE 20