EMPIRE SILK MILL 92 SOUTH EMPIRE STREET WILKES-BARRE, PA 18702 Steven A Wilson, MBA Associate Advisor 484.245.1021 steve.wilson@svn.com Chris Baj, CCIM, CPA Senior Advisor 484.245.1016 chris.baj@svn.com SVN IMPERIAL REALTY 1611 POND ROAD, SUITE 200, ALLENTOWN, PA 18104 SALE BROCHURE
Property Summary OFFERING SUMMARY Sale Price: $1,390,000 Number Of Units: 60 Building Size: 80,000 SF Zoning: R-1, R-2, C-1 PROPERTY HIGHLIGHTS Site plan for 60 upscale condominium/apartment units with amenities Lower level could accommodate a bar/restaurant Ideal and convenient location minutes off major highways and close to restaurants, shopping, schools Historic Tuscany brick building (former Silk Mill) awaiting restoration to its highest and best current use High ceilings and virtually no walls inside the mill create the perfect and popular apartment loft effect 80,000 sq ft building on 3.5 acres of land Market: Wilkes-Barre, Scranton Price / SF: $17.38 EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 2
Property Description PROPERTY OVERVIEW Empire Silk Mill was once the primary factory and home office of the late great retailer Robert Hall. It's rich history and solid structure make it ideal for conversion into upscale apartment complex complete with amenities. The current owner created a plan to build out 60 upscale condominium/apartment units designed to preserve its unique historic character while adding a modern contemporary flare. Historic loft apartments are a very popular trend today nationwide. The site features an 80,000 sq ft historic building on 3½ acres of land. The primary parcel is (360 x 400 ) irregular. The property is bordered by residential homes and has access on three sides to S. Empire St., Freeman St. and Factory Lane. The lot allows on-site secure parking that can accommodate up to 200 vehicles. As there are virtually no walls inside the mill, the open floor plan permits relatively easy framing. Each apartment could have from 2 to 10 large windows and therefore be extremely bright. The ceilings are 12 8 high and open to wood beam trusses creating a large loft design. The fourth floor s penthouse ceilings are higher at 20. LOCATION OVERVIEW Empire Silk Mill is ideally located at 92 South Empire Street in Wilkes-Barre, PA 18702. It is minutes off major interstate I-81 and the PA turnpike I- 476. It rests on the southern edge of a residential zone in Wilkes-Barre City bordering Wilkes-Barre Township and its mall zone which is positioned along business Route 309. Empire Silk Mill is within a two mile radius of all these following attractions; Mohegan Sun Gambling Casino & Pocono Downs Raceway, Mohegan Sun Arena Concert Hall & Stadium, the Wyoming Valley Mall, several hospitals, many colleges and trade schools, a new Super Wal-Mart, Wegmans, Home Depot, Lowes, dozens of shopping centers and hundreds of restaurants. It is less than one mile from the Public Square in the center of Wilkes-Barre City, which has City Hall, the downtown Movie 14 and Kirby Theaters and over 60 historic building sites. Kings and Wilkes Colleges are also nearby running parallel along side the newly renovated Susquehanna River Commons. EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 3
Additional Photos EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 4
Additional Photos EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 5
Additional Photos EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 6
Additional Photos EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 7
EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 8
Site Plan EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 9
Regional Map Empire Silk Mill EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 10
Location Maps EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 11
Aerial Map Empire Silk Mill EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 12
Retailer Map EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 13
Advisors Bios Steven A Wilson, MBA Associate Advisor SVN Imperial Realty Steve joined the SVN Imperial Realty team in 2016 after more than 30 years in business development -- primarily in manufacturing and distribution. As an owner of his own contract manufacturing and packaging services company since 2005, Steve brings a unique insight to his client relationships. As a member of the Baj Team, Steve handles such assets as hospitality, multifamily, office and land, with a special focus on the industrial sector. Phone: 484.245.1021 Cell: 610.216.7600 Email: steve.wilson@svn.com 1611 Pond Road, Suite 200 Allentown, PA 18104 His business background includes working with small/midsize business owners, senior managers and C-level executives in a wide range of industries on a national and international scale. In addition to running his own company, his experience includes positions with organizations such as AQL Decorating (O.Berk Company), Victoria Vogue Inc, Day Timers Inc (ACCO Brands/Fortune Brands), Sun Refining & Marketing, and GTE Sylvania. This exposure to both Fortune 500 companies and small-to-midsize businesses affords Steve the perspective needed to tackle a myriad of issues and situations. As a CRE advisor, Steve uses his business development background to understand his clients' objectives and challenges before presenting solutions. He knows firsthand the value of building positive relationships and works to structure transactions in which all parties achieve the best possible outcomes. A native of Bucks County Pennsylvania, Steve has also lived and worked in Maryland and Florida. Steve and his wife Jennifer -- the parents of three sons -- reside in the Lehigh Valley. Chris Baj, CCIM, CPA For additional information on The Baj Team please visit our website at www.thebajteam.com. Senior Advisor SVN Imperial Realty Chris has over 30 years experience in business advisory and commercial real estate consulting. He approaches his client's needs not only from the traditional brokerage and consulting perspective, but also by handling each transaction as if it were his own - providing the highest diligence possible utilizing the cutting-edge platforms of SVN. In this way Chris combines the traditional advisory services with value-enhancing options for his clients. Chris works with clients and properties throughout the US putting together 'win-win-win' scenarios. Phone: 484.245.1016 Cell: 570.242.4056 Email: chris.baj@svn.com 1611 Pond Road, Suite 200 Allentown, PA 18104 The focus for Chris includes multifamily, industrial, office and retail properties. He also engages is certain development/redevelopment projects. In 2016 he was ranked #17 out of over 1,600 SVN agents in closing sales of properties for his clients. His market includes the Lehigh Valley of Pennsylvania but he has done transactions all over the US. Due to Chris' success he has been asked to establish the SVN brand and operation in Europe, specifically, in Poland. Chris has earned the prestigious CCIM designation which can be characterized as the 'art and science' of commercial real estate. There are only 9,000 such designees in the United States. In addition, Chris is a CPA licensed in multiple states. This allows him to ensure that the data and information that is being analyzed is of the highest integrity and accuracy which is critical for optimizing decisions and managing risks. Chris' professional career started at Arthur Andersen & Co. where he enjoyed providing the highest level of service to a multitude of companies and clients. For additional information on The Baj Team please visit our website at www.thebajteam.com. EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 14
Disclaimer The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. EMPIRE SILK MILL 92 SOUTH EMPIRE STREET, WILKES-BARRE, PA 18702 SVN Imperial Realty Page 15