Antietam Valley Shopping Center, in St. Lawrence Township, was sold for $2.45 million, the latest in a spate of Berks County shopping centers to change owners in recent months.
Sin Ventures Oregon Avenue LP of Chicago sold the shopping center at 3000 St. Lawrence Road in June to Antietam Valley Shopping Center Reading LLC, Piscataway, N.J., said Steve Haver, sales and leasing agent for NAI Keystone Commercial and Industrial LLC of Wyomissing.
Built in 1961, the 110,000 square-foot shopping center lost its anchor tenant, Aldi supermarket, about a year ago. About half of the center’s 24 retail spaces are occupied. Rite Aid, Dollar General, Warehouse Gym and BB&T are major tenants.
“We’re excited to have the property. I think it has a lot of potential to get filled up,” Haver said.
Under the new owner, Antietam Valley will undergo much-needed renovations and a facelift, Haver said. It was last renovated in 1990.
“We are working with an architecture firm to come up with some concepts for updating the façade for the center. They are going to do a lot of roof repairs, some pavement and landscaping upgrades,” Haver said.
“They are really serious about updating the center and resolving some of the issues that have been problems in the past,” such as storm and sewer issues, Haver said.
Off Route 422, Antietam Shopping Center is near a large residential area. About 40,000 cars pass the shopping center every day.
“I think it would support a good neighborhood center with merchants people use on a daily basis, such as a small grocery store,” Haver said. “It’s a good location and very accessible.”
A number of Berks County shopping centers have been sold in recent months, including Madeira Plaza, Muhlenberg Township; Fairgrounds Square Mall, Muhlenberg Township; Village Square Shopping Center, Spring Township; Exeter Commons, Exeter Township; and Towne Square Commons, Muhlenberg Township.