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Mountainville Center's Occupancy Hits 99%

ALLENTOWN, PA-Retro Fitness inks a lease for 11,500 sf, and National Auto Sales renews its 7,476-sf unit in the Lightstone Group's 118,847-sf shopping center.

By Marita Thomas | Updated on September 14, 2007

ALLENTOWN, PA-A new tenant and a renewal aggregating 18,976 sf have taken leasing at the Mountainville Shopping Center to 99%. The 118,847-sf center, at 1604 S. Fourth St., is owned by the Lakewood, NJ-based Lightstone Group.

Retro Fitness has signed a lease for 11,500 sf and will open its first Pennsylvania unit at the center this fall. National Auto Sales has renewed its 7,476-sf space for an additional five years. “The Mountainville Shopping Center obviously is a hot spot for prospective tenants, as it’s situated in a high-trafficked area and is easily accessible to consumers,” says Jeff Dash, Lightstone’s VP of leasing, in a statement.

Lightstone acquired the property from White Plains, NY-based Acadia Realty Trust as part of a 17-property, 2.3-million-sf retail portfolio for $52.7 million in April 2002. The portfolio included 10 centers in Pennsylvania and others in Alabama, New York, Virginia, South Carolina, Georgia and Florida. Lightstone has since disposed of some of the assets and redeveloped others.

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