Facebook LinkedIn Twitter RSS

Firm hired to market Plaza space left vacant by planned Talen move

By ,
The Plaza at 835 Hamilton St. in Allentown (Contributed)
The Plaza at 835 Hamilton St. in Allentown (Contributed)

While litigation is reportedly ongoing over the impact Allentown's Neighborhood Improvement Zone has had on the value of the Plaza at 835 Hamilton, the real estate firm serving as the building's leasing agent said interest in the property has been high.

CBRE was hired to market the property, and Jody King, vice president of the firm, said in the 10 days the property has been listed, “the amount of response has blown us away.”

The Plaza, formerly known as the PPL Plaza, was one of the first major redevelopment projects in the downtown when built in 2002.

After Talen Energy was spun off from PPL, it became the main tenant of the building.

But now, lured by the cost savings of the nearby NIZ, Talen is moving out of the plaza next spring, down the block to a NIZ property developed by City Center Investment Corp. The Plaza does not have access to NIZ incentives.

King said one of the problems the building had with marketing the available space in the 245,000-square-foot building was lack of surety about its future.

“People didn’t know what was going on with the building,” King said. “We need to provide education about what we can do.”

While she said it would be great to find a tenant to take up the entire three floors that Talen occupies, King said it’s much more likely that they will need to divide the property into smaller offices, perhaps six tenants or so on a floor.

“We are working with an architect and a developer to subdivide the space,” she said.

She said it looks like the offices can be divided into as small as 2,500 square feet.

King said so far she’s received inquiries for space as small as 5,000 square feet and as large as 90,000 square feet.

Besides office space, there is 5,000 square feet of retail space on the first floor that is vacant. It was most recently a restaurant.

King said that space likely will be divided in two to make it more marketable.

PPL Gold Credit Union and BB&T Bank are existing tenants in the building that are expected to remain after the Talen move.

Also Popular on LVB

Stacy Wescoe

Stacy Wescoe

Writer and online editor Stacy Wescoe has her finger on the pulse of the business community in the Greater Lehigh Valley and keeps you up-to-date with technology and trends, plus what coworkers and competitors are talking about around the water cooler — and on social media. She can be reached at stacyw@lvb.com or 610-807-9619, ext. 4104. Follow her on Twitter at @morestacy and on Facebook. Circle Stacy Wescoe on .

Leave a Comment


Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy