CENTER TWP. — Four parcels surrounding the Beaver Valley Mall have officially landed on the open market, and if the owner of the properties gets its asking price, it could be in line for a significant sum.
The properties went on the market only about a month after the corporate owner of the mall announced its intent to sell 11 parcels around the property.
The owner has maintained that any money earned from the sale of that land will be put back into the mall, which is struggling financially like other retail outlets across the country.
According to listings from commercial real estate firm CBRE, the four parcels currently for sale include land housed by Arby’s, Burger King, Huntington Bank, and National Tire and Battery near the Center Township mall.
The asking price for all four properties — which can be bundled or purchased separately — is a combined $6.24 million.
The most expensive property is the plot where Huntington Bank sits at 613 Beaver Valley Mall Blvd. That property, which is nearly 2,000 square feet, is on the market for $2.04 million.
In addition, the Burger King plot is listed at $1.49 million, the National Tire and Battery plot is listed at $1.48 million, and the Arby’s site is listed at $1.23 million.
In an advertisement that lists the properties for sale, CBRE mentioned both the Shell Chemicals ethane cracker plant and Penn State-Beaver as two nearby entities that could draw in customers.
It’s still not clear what will happen to the current businesses if or when the property is sold. Each has a multiyear lease in place, and in the case of Burger King, 16 years remain. Eight years are left on the Arby’s lease, and three years each on the National Tire and Huntington leases.
Marc Mandel, a CBRE employee from eastern Pennsylvania who’s listed as one of the agents marketing the properties, did not return repeated requests for comment.
The Beaver Valley Mall is owned by Namdar Realty, which bought the property for $24 million in January.