Lowe's signs ground lease in Pennsylvania

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.

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