(For more retail coverage, click GlobeSt.com/RETAIL.)
SCHNECKSVILLE, PA-Western Lehigh Valley Corp. has sold 40.6 acres on Route 309 for $8 million, or $197,044 an acre. Brokers involved in the transaction said the land would be used for retail development, but declined to identify the buyer or provide any further details regarding the transaction.
According to Lehigh County public records, the buyer is Wal-Mart Stores East LP, based in Bentonville, AK. Jim Davis, a Wal-Mart senior manager for Pennsylvania, located in its Scranton, PA office, tells GlobeSt.com, "We have no immediate plans for the land. We acquired it for future consideration."
The vacant land is at 3872 Rte. 309 in N. Whitehall Township in Lehigh County, approximately 12 miles northwest of Downtown Allentown, and it is zoned commercial. According to the records, a portion of the land is the former site of Orefield Cold Storage Distribution Center Inc.
Costas Hrousis and Deborah Skearns of Allentown-based Sperry Van Ness/Imperial Realty represented the seller, also based in Allentown. Adam Kohler of Conshohocken-based Fameco Real Estate represented the buyer.
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