TRINDLE RUN CENTER For Sale - OFFERING MEMORANDUM
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For Sale
TRINDLE RUN CENTER
Mechanicsburg, PA 17050
JOE SPAGNOLA
joe@bennettwilliams.com
OFFICE: 717.843.5555
CELL: 717.676.6628
OFFERING MEMORANDUM
RETAIL BROKERAGE. REDEFINED
DISCLAIMER:
Bennett Williams Commercial has been engaged by the property owner to market this asset for sale. Information regarding this asset is purported to be from reliable sources. No representation is made to the accuracy
thereof, and is submitted subject to errors, omissions, change in price, prior sale, withdrawal without notice, or other conditions. Any buyer is recommended to conduct their own independent due diligence and rely upon
those results.
INVESTMENT ADVISOR: OUR LOCATIONS:
JOE SPAGNOLA YORK OFFICE EXTON OFFICE LANCASTER OFFICE:
joe@bennettwilliams.com 3528 Concord Rd. 1 E. Uwchlan Ave. 150 FARMINGTON LANE, SUITE 201
York, PA 17402 Suite 409, Exton, PA 19341 Lancaster, PA 17601
OM: TRINDLE RUN CENTER
TRINDLE RUN CENTER
Mechanicsburg, PA 17050
TABLE OF CONTENTS
INVESTMENT SUMMARY 4
PROPERTY OVERVIEW 5
MARKET AERIAL 6
RENT ROLL 7
SITE PLAN 8
MARKET OVERVIEW 9
TENANT PROFILE 10-13
ABOUT US 14
OM: TRINDLE RUN CENTER
INVESTMENT SUMMARY
Trindle Run Center, a 21,987-square foot retail shopping center, is ideally located along the Carlisle Pike in Mechanicsburg, PA., one of
Harrisburg’s busiest shopping corridors. This retail center includes a dominant mix of national retailers including Starbucks, Chipotle,
Pet Valu, The Vitamin Shoppe, Pure Bare and Jersey Mikes. The center not only benefits from the high traffic flow of the Carlisle Pike,
but also it’s neighboring retail power center, Silver Springs Square, which is home to the areas only Wegmans. With a trade area that
extends more than 10 miles, this location attracts a vast customer base and pulls from not just the immediate area, but surrounding PROPERTY TYPE:
market points as well. It has a total of 183 parking spaces, which is 8.3 spaces per thousand square feet. Multi-Tenant Retail
LOT SIZE:
6.94 Acres
GLA:
21,987 SF
CAP RATE:
6.90% %
NOI 2021:
$641,803
PRICE:
$9,300,000
4 INVESTMENT SUMMARY OM: TRINDLE RUN CENTER
PROPERTY OVERVIEW 5 PROPERTY OVERVIEW OM: TRINDLE RUN CENTER
Silver Spring Square
MARKET AERIAL
30,000 CPD
30
,00
0C
PD
Silver Spring Commons
Shoppes at Silver
Spring
TRINDLE RUN CENTER
Cumberland Marketplace
30
,00
0C
PD
Hampden Commons
5600 Carlisle Pike
Gateway Square
MARKET OVERVIEW – Mechanicsburg, PA- Carlisle Pike
3528 Concord Rd., York, PA 174
Cumberland Valley PA is in the perfect location for gateways and shopping, easily accessible off of interstate 81, I-76, I-83 and US 11/15. It’s a 30-minute drive from Harrisburg International Airport and Amtrak
717-843-5555 Pho
www.BennettWilliams.co
station, and within a 2-3 hour drive of Washington D.C., Baltimore, Philadelphia, Pittsburgh, and New York City.
6 MARKET OVERVIEW OM: TRINDLE RUN CENTER
RENT ROLL
TENANT SF PRO RATA %
Starbucks 1,920 8.7%
Chipotle 2,318 10.5%
Pet Valu 4,478 20.4%
Vitamin Shoppe 2,860 13.0%
Pure Barre 1,553 7.1%
3 Little Birds 1,284 5.8%
Freshido 2,200 10.0%
PIVOT Physical Therapy 2,165 9.8%
Studio B Yoga 1,600 7.3%
Jersey Mike’s 1,609 7.3%
Total Rentable Square Feet: 21,987 100.00%
Occupied Square Feet 21,987
Vacant Square Feet 0
Occupied% 100%
7 RENT ROLL OM: TRINDLE RUN CENTER
SITE PLAN CARLISLE PIKE 30,000 CPD
SUITE TENANT SF
1A CHIPOTLE 2,318
19
PYLON SIGN
1B STARBUCKS 1,920
1C PET VALU 4,478
7
3
2A THE VITAMIN SHOPPE 2,860
2A 1A 1B
2B THREE LITTLE BIRDS BOUTIQUE 1,284
2B 10
2C PURE BARRE 1,533 9
3A FRESHIDO 2,200 2C
9
3B PIVOT PHYSICAL THERAPY 2,165 5
3C STUDIO B YOGA 1,600
1C
3D JERSEY MIKE’S 1,609 12 LOADING ZONE
7
7
PARKING SPACES
TOTAL PARKING SPACES: 183
12
8
TOTAL GLA (SF) 21,987
PARKING SPACES/1000 SF 8.32
17 11 16
3D 3C 3B 3A 15
16
LOADING ZONE
8 SITE PLAN OM: TRINDLE RUN CENTER
22
MARKET OVERVIEW CUMBERLAND COUNTY
CUMBERLAND COUNTY OVERVIEW
Cumberland Valley PA is in the perfect location for getaways
& shopping, easily accessible off of Interstate 81, I-76, I-83
POPULATION and US 11/15, a 30 minute drive from Harrisburg International
193,953 Airport and Amtrak station, and within a 2-3 hour drive of
Washington D.C., Baltimore, Philadelphia, Pittsburgh and New
York City.
TOP EMPLOYERS
MEDIAN HH INCOME
$72,720
# OF EMPLOYEES
151,077
MEDIAN AGE
40.3
9 MARKET OVERVIEW OM: TRINDLE RUN CENTER
TENANT PROFILE
STARBUCKS CHIPOTLE PET VALU
The Starbucks Corporation is headquartered in Seattle Chipotle is an American chain of fast food restaurants. Pet Valu is a family of stores, which also includes Paul-
Washington and is an American multinational chain of They can be found in the United States, United King- mac’s Pet Food and Bosley’s by Pet Valu. In 2016, they
coffeehouses. Starbucks is seen to be the largest rep- dom, Canada, Germany, and France, specializing in merged with Pet Supermarket and have almost 1,200
resentative of the United States’ second wave of coffee tacos and Mission burritos. With more than 2,000 lo- stores. Together, they are one of the largest retail oper-
culture, making them the world’s largest coffeehouse cations, Chipotle staffs more than 45,000 employees. ations in North America and have dedicated themselves
chain. As of 2020, they operate over 30,000 world- to providing families with food and supplies for dogs,
wide locations, in more than 70 countries.
GROWTH & EXPANSION cats, birds, fish, reptiles and other small animals. Pet
GROWTH & EXPANSION 1993 Steve Ells founded Chipotle with 16 restaurants Valu has been active for more than 40 years and many
in Colorado of their locations are locally owned and operated. As
1971 Company founded at Seattle’s Pike Place Market 1998 Mcdonald’s became a major investor the largest small format specialty retailer in the world,
1980’s Sold to Howard Shultz 2006 The chain had grown to over 500 locations you will find their stores across Canada, Northeastern
1986- Shultz let an aggressive expansion across the U.S. 2018 Chipotle announces the relocation of their corporate U.S., and the mid-west.
2000 West Coast Headquarters to Newport Beach, California
2005- Jim Donald served as chief executives and orchestrated They believe in giving back to their local communities
2008 a large-scale earning expansion by partnering with shelters, rescues, and charities by
2017 Company planned to open 1,000 coffee reserves participating in fundraisers, adoptions, and their Giving
2019 The latest roastery location opened on Chicago’s Back Project grants.
Magnificent Mile and is the word’s largest Starbucks
10 TENANT PROFILE OM: TRINDLE RUN CENTERTENANT PROFILE
PURE BARRE THREE LITTLE BIRDS THE VITAMIN SHOPPE
Pure Barre was founded in 2001 by Carrie Rezabek Three Little Birds Boutique is a locally owned women’s The Vitamin Shoppe is a New Jersey based retailer of
Dorr. It has become the largest, most established barre clothing store in Central, PA. There are three locations, nutritional supplements, with their headquarters locat-
franchise with more than 500 studio franchises across located in Mechanicsburg, PA, Hershey, PA, and State ed in Secaucus, NJ. The Vitamin Shoppe was founded in
North America and over 550,000 clients. Pure Barre’s College, PA. 1977 and today has over 700 locations today.
technique comes in a range of classes that target
strength, cardio, and flexibility for people at all levels. GROWTH & EXPANSION
1977 Founded by Jeffrey Horowitz
2002 The Vitamin Shoppe Industries was sold to Bear Stearns
for approximately $310 million
2019 Liberty Tax Inc, the parent company of Liberty Tax Service
and Buddy’s Home Furnishings, acquired the Vitamin
Shoppe’s 750 stores
11 TENANT PROFILE OM: TRINDLE RUN CENTERTENANT PROFILE
JERSEY MIKE’S FRESHIDO
Jersey Mike’s is an American sandwich chain, with their headquarters in Wall Town- Freshido is a locally owned and operated chain of restaurants, by two friends. They have
ship, New Jersey. The Jersey Mike’s franchise has almost 1,600 locations with over three locations, in Harrisburg, PA, Hershey, PA, and Mechanicsburg, PA. With a goal to
100 more under development, across the United States. make fresh, healthy food, they created a menu to appeal to appetite and health. They
source their products from local businesses and offer the highest quality of food.
GROWTH & EXPANSION
1956 In Point Pleasant, NJ, Peter Cancro worked at Mike’s Submarines.
1975 The shop went up for sale and Peter Cancro pulled together $125,000 to purchase the
business. Today, he is the owner and CEO of the company
2014 Jersey Mike’s had 750 locations, with an additional 650 under development
2015 197 new location opened and the total number of Jersey Mike’s restaurants exceeded 1,000
2019 Jersey Mike’s operates 1,600+ locations
12 TENANT PROFILE OM: TRINDLE RUN CENTERTENANT PROFILE PIVOT STUDIO B POWER YOGA Pivot Physical Therapy is the nation’s fastest growing physical therapy service pro- Studio B Yoga has 2 locations. One is in Hershey, PA, along with their Mechanicsburg, PA vider. They have locations in Delaware, Maryland, North Carolina, Pennsylvania, Vir- location. They offer primarily yoga style classes for all levels. Some of the types of yoga ginia, District of Columbia, and West Virginia. they offer include Yin, Gentle Flow, Kids Yoga, and Barre classes. LOCATIONS DELAWARE - 26 VIRGINIA - 69 MARYLAND - 67 DC - 8 NORTH CAROLINA - 38 WEST VIRGINIA - 3 PENNSYLVANIA - 43 13 TENANT PROFILE OM: TRINDLE RUN CENTER
ABOUT BENNETT WILLIAMS COMMERCIAL
Since its founding in 1956, Bennett Williams Commercial, Inc. has offered full Commercial Real Estate services to the Central Pennsylvania region and beyond. We have served thousands of
commercial, industrial and retail clients as we have grown in size and reputation. With our team of both experienced and knowledgeable executives as well as young and energetic profes-
sionals, we have the team to handle any commercial real estate need.
At Bennett Williams, your investments are always in good hands. Our retail Investment sales group provides top notch investment sales services for all categories of retail investments
for both buyers and sellers alike, whether institutional or local, throughout the Central Pennsylvania landscape. Whether the asset is a single or multi-tenant, we pride ourselves in going
above and beyond the expectations of the client to achieve maximum results. With over 60 years under our belt, and over 25 licensed real estate professionals, we possess the knowledge,
experience, and dedication trusted by many in the investment sales segment of the industry.
Bennett Williams is a member of the Capital Markets Real Estate Network, a nationwide network of professionals dedicated to,and specializing in the capital
markets segment of commercial real estate. CMRE is comprised of the most highly-qualified, CAPITAL MARKETS best-experienced independent Capital Market real
estate professionals.
INVESTMENT ADVISORS: OUR LOCATIONS:
JOE SPAGNOLA YORK OFFICE: LANCASTER OFFICE: EXTON OFFICE:
joe@bennettwilliams.com 3528 Concord Rd. 150 Farmington Lane, Suite 201 1 E. Uwchlan Ave. Suite 409
York, PA 17402 Lancaster, PA 17601 Exton, PA 19341
Bennett Williams is a member of the Capital Markets Real Estate Network, a nationwide network of professionals dedicated to,and specializing in the capital markets segment of commercial real estate.
CMRE is comprised of the most highly-qualified, CAPITAL MARKETS best-experienced independent Capital Market real estate professionals.You can also read
