EASTON, Pa.- A building at the center of a major redevelopment project at Easton’s southern gateway is for sale.
The Heritage Riverview building at 132-142 S. 3rd St. is listed on the commercial real estate site LoopNet for $10.3 million.
According to the site, the listing is being managed by Matthews Real Estate Investment Services, which is based in Tennessee but has offices across the U.S.
The two-story, 45,644-square foot building houses offices for Hearst Magazines as well as Scalarworks, which makes mounts and sights for firearms.
The site, across the street from Easton City Hall, was once a one-story bowling alley with parking underneath.
According to the Lehigh Valley Economic Development Corporation, the Heritage Lanes bowling alley closed in the late 1990s.
The building had many other uses over the years, including a restaurant, Pep Boys auto supply store, and a Packard dealership.
Developer Lou Pektor’s Heritage Riverview LP purchased the property in 2016 for $925,000 and carried out extensive renovations at the site.
Ground was broken on the project in May of 2019; construction was supposed to wrap later that year but continued into 2020, which brought the Covid-19 pandemic and a new set of challenges.
According to the real estate listing, both Hearst and Scalarworks signed ten-year leases with extension options.
The site is part of a ten-year LERTA tax abatement zone.