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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.

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

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Financing By

Shopping Neighborhood

Kensington Square

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

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

Financing By

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