Lancaster, PA — CBRE, Inc. has brokered the sale of the Mattress Warehouse property at 1831 Hempstead Rd. in Lancaster. Mattress Warehouse remains as the tenant, with 10 years remaining on their current lease. CBRE’s Kevin McClernon and George Schmitt represented the seller, PREIT.
Mattress Warehouse is located in a 6,000 s/f building as an outlot in a 1.84 acre shopping center. The property was sold to a private investor, David Roeberg. The sale price is not disclosed at this time.“A property like this, with a strong-credit, corporate-owned retailer like Mattress Warehouse with a long-term lease in effect, was bound to attract significant interest,” said McClernon, senior vice president with CBRE’s Investment Properties division. “This site is adjacent to other strong national retailers, including Costco, Lowe’s, and Best Buy. Combined with its easy access and high visibility to the US-30 Bypass, the fundamentals for both the property and the region are strong.” The Mattress Warehouse property is located at the corner of Hempstead Rd. and Pitney Rd. just off of Rte. 30. It is situated along a high-traffic retail corridor in Lancaster County. The company opened its first retail location in 1989 in Frederick, Maryland, and now has more than 180 stores throughout the east coast. 1831 Hempstead Rd. is one of the company’s newest locations.