Lowe’s signs ground lease in Pennsylvania

Store for home-improvement retailer recently built on-site

Brokerage Marcus & Millichap recently arranged the sale of a 14.28-acre ground lease for a 166,609-square foot Lowe's Home Improvement store in Whitehall, Pa. The sales price was $13.2 million. Located at 2650 MacArthur Road, the newly constructed Lowe's Home Improvement has signed a 20-year absolute triple-net ground lease, which commenced in October 2007. Lowe's Home Improvement is contiguous with a community center anchored by a Big-Kmart and Barnes & Noble. *** What's your opinion? Leave your comments below or send a letter to the editor. ...