15 Public Square, Wilkes-Barre, PA
Colliers is pleased to announce the team of Jeff Algatt and John Susanin have recently completed the investment sale of 15 Public Square, a 74,452 multi-tenanted office and retail building, known also as the Bicentennial Building, a landmark property of Wilkes-Barre, PA’s central business district.
The distinctive six story building features street level retail and five floors of offices spanning the northwest side of the city’s downtown hub, Public Square. The property was 83% occupied at the time of sale. It was sold on behalf of Bicentennial Building Associates to a private investment group based in the New York metro area.
“Our ability to source buyers from both in and out of the local market, our team’s comprehensive local knowledge, and a patient seller and buyer all combined to conclude this sale even amid unforeseen COVID-19 difficulties” noted Jeff Algatt, a Senior Vice President of the Colliers Investment Sales group.
Wilkes-Barre’s CBD is a resurgent city center, bordered by Susquehanna River Common and home to major corporate occupiers, government seats and the campuses of Kings College and Wilkes University that features attractive live-work-play amenities for urban living. 15 Public Square is located one block from the City’s primary intermodal hub.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
