Shopping Neighborhood
Kensington Square
1 Kensington Square, New Kensington, PA 15068
Listing Price: $3,020,000
Cap Rate
7.50%
Gross SF
26,351
Rentable SF
26,351
Price/Gross SF
$114.61
Lot Size
1.46 acres
Year Built
1985
Investment Overview
Marcus & Millichap is pleased to bring to market Kensington Square. Please review the investment highlights and/or offering memorandum for more information.
Kensington Square
Investment Highlights
- 92% Occupied, 26,351 SF Four-Building Medical & Retail Offering in New Kensington, PA (Pittsburgh MSA)
- Anchored by DaVita Kidney Care & Allegheny Health Network (AHN) (Combined 36% of GLA) – Prominent Multi-Billion Dollar Healthcare Organizations
- DaVita (21% of GLA) is Leased thru July 2026; Over $1.2M Invested by Tenant in Build-Out with 8 Hemodialysis Stations; Large 13.6% Rent Increase in Upcoming Option
- AHN (15% of GLA) – New 5-Year Lease with Over$1.1M Invested by Tenant in Build-Out; Relocation from Former Hospital in City and Offers Urgent Care, Imaging, Cardiovascular Testing, and More
- Cheap/Replaceable Rents Averaging $11.57/SF Gross
- Freestanding First National Bank (FNB) Branch Included in Sale – Separately Parceled with Strong Deposits of $63 Million; Headquartered in Pittsburgh with Strong Local Market Share
- Sunnyside Cannabis Dispensary (11% of GLA) –Freestanding Building with Over $600K Invested by Tenant in Build-Out and Security Features; Retail Brand of Cresco Labs, a 50+ Unit National Producer and Retail Operator with 10 Other Locations in Pennsylvania
- Offering Includes Approx. 30 Covered Parking Spaces Located Below City-Owned Garage – City is Responsible for All Garage Maintenance
Broker of Record
Financing By
Listing Price: $3,020,000
Cap Rate
7.50%
Gross SF
26,351
Rentable SF
26,351
Price/Gross SF
$114.61
Lot Size
1.46 acres
Year Built
1985
Investment Highlights
- 92% Occupied, 26,351 SF Four-Building Medical & Retail Offering in New Kensington, PA (Pittsburgh MSA)
- Anchored by DaVita Kidney Care & Allegheny Health Network (AHN) (Combined 36% of GLA) – Prominent Multi-Billion Dollar Healthcare Organizations
- DaVita (21% of GLA) is Leased thru July 2026; Over $1.2M Invested by Tenant in Build-Out with 8 Hemodialysis Stations; Large 13.6% Rent Increase in Upcoming Option
- AHN (15% of GLA) – New 5-Year Lease with Over$1.1M Invested by Tenant in Build-Out; Relocation from Former Hospital in City and Offers Urgent Care, Imaging, Cardiovascular Testing, and More
- Cheap/Replaceable Rents Averaging $11.57/SF Gross
- Freestanding First National Bank (FNB) Branch Included in Sale – Separately Parceled with Strong Deposits of $63 Million; Headquartered in Pittsburgh with Strong Local Market Share
- Sunnyside Cannabis Dispensary (11% of GLA) –Freestanding Building with Over $600K Invested by Tenant in Build-Out and Security Features; Retail Brand of Cresco Labs, a 50+ Unit National Producer and Retail Operator with 10 Other Locations in Pennsylvania
- Offering Includes Approx. 30 Covered Parking Spaces Located Below City-Owned Garage – City is Responsible for All Garage Maintenance
Investment Overview
Marcus & Millichap is pleased to bring to market Kensington Square. Please review the investment highlights and/or offering memorandum for more information.
Broker of Record
Financing By
