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East End Centre, Wilkes-Barre, Pennsylvania

WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania, is pleased to announce the acquisition of East End Centre located in Wilkes-Barre, Pennsylvania, on June 8, 2006.

East End Centre is a 308,000 square foot community shopping center situated along Business Route 309/Kidder Street. It has excellent access from State Routes 115 and 315, as well as from Exit #168 of Interstate 81. The property lies about two miles east of downtown Wilkes-Barre. It is also a quarter mile from the Wyoming Valley Mall, a 911,000 square foot regional mall anchored by KauffmanĂ­s, Sears, JC Penney and the Bon Ton, and just north of the Wachovia Arena, an 8,000 seat sports and entertainment venue built in 1999.

The center is anchored by Price Chopper in 50,000 square feet and includes a mix of national and regional retailers, including Big Lots, Dollar Tree, Old Country Buffet and Red Lobster. The property was constructed in phases in 1987 and 1996.

East End Centre is currently 44% occupied and therefore provides an excellent opportunity to acquire a well-located community shopping center with considerable upside through the lease-up of vacant space. The principals of WP Realty have extensive expertise in leasing and entrepreneurial management and turning underperforming centers around.