100 Tarentum Bridge Rd
New Kensington, PA 15068
Riverview Plaza · Retail Property For Sale

Riverview Plaza is a Staples anchored neighborhood retail center located at 100 Tarentum Bridge Road in New Kensington, PA. Situated on one parcel totaling ±14 land acres Riverview Plaza offers abundant parking and high identity with a prominent monument sign on the heavily trafficked intersection of Tarentum Bridge Road and Caldwell Ave NW. The center comprises 11 retail units ranging in size from 1,152 SF to 22,331 SF. Staples (nearly 17% of GLA) has remaining lease term of four years, with two renewal options. Riverview Plaza is currently 38% occupied with value-add opportunity through leasing-up available inline space formerly occupied by Kmart, and through contractual increases of the existing leases. Excluding the dark box, Riverview Plaza is 92.5% occupied with historically good performance. The rent roll is comprised of service oriented, internet resistant tenants, including Altmeyer's, Quest Diagnostics, Long John Silver/A&W, Verizon, Chase Bank ATM, and local restaurants. The asset benefits from long term tenancy and staggered lease expirations which provide a balance of in-place cashflow and future upside. Below market rents provide the potential to increase revenue upon rollover through mark-to-market rates. The site is offers solid market fundamentals, high traffic counts and excellent visibility. Riverview Plaza is a highly visible, cash-flowing asset with significant upside through vacancy absorption, contractual rent bumps, and mark-to-market increases upon rollover.