First Commonwealth Federal Credit Union has signed a lease for a 3,275-square-foot financial center at Allentown Commons, expanding the credit union’s presence in the Lehigh Valley.
The new location at 1302 Hanover Ave. will feature a double drive-thru interactive teller machine, financial advisory services, and other banking offerings. First Commonwealth, with more than $1.4 billion in assets, is the largest credit union based in the Lehigh Valley, serving more than 98,000 members across 14 locations.
Larken Associates, the commercial and residential real estate firm that owns the property, represented itself in the transaction through Victor Kelly, executive vice president of its commercial division. Derek Zerfass and Scott Horner of Colliers International represented the tenant.
“First Commonwealth has grown their presence across our Pennsylvania portfolio,” Kelly said. “Their continued expansion reflects the strength of the local market and the value of well-located and professionally managed properties. We are proud to support their growth and the services they bring to Allentown and throughout the Lehigh Valley region.”
This marks the second collaboration between First Commonwealth and Larken Associates. The credit union recently constructed a 2,600-square-foot freestanding branch at Larken’s Carbon Plaza in Lehighton.
Donna LoStocco, president and CEO of First Commonwealth Federal Credit Union, said the location provides strategic advantages for member service.
Allentown Commons consists of five buildings totaling 70,612 square feet of retail, office, and medical space. Current tenants include Planet Fitness, Family Dollar, and Health Network Laboratories. The center sits in a densely populated residential area with access to Routes 22, 33 and 309, and Interstate 78.
Additional retail and office spaces ranging from 1,880 to 2,428 square feet remain available for lease at the shopping center.