A piece of Pennsylvania commercial real estate that once housed a fast-food hamburger restaurant could see a hotel rise on it, if a business filing is any indication.
A limited liability corporation whose name includes the word “hotel” has bought the fast-food site at Hamilton and Cedar Crest boulevards in South Whitehall, Pennsylvania, which is about 60 miles north of Philadelphia. The chairman of the commercial real estate agency that was affiliated with the sale confirmed the buyer and said the sale closed on May 22.
The chairman said that as far as he knows, the new owner will hold on to the property, for now, in his “land bank.” He did not name the individual or people behind the land purchases, but did say that the new owners also own hotels in the Lehigh Valley area of Pennsylvania, as well as an adjacent state.
State business records show that the corporate address of the buyer matches that of the CEO of a company that specializes in real estate investments and hotels, including another in South Whitehall.
The commercial real estate agent said that given the name of the corporation making the purchase, it is a logical assumption that the owners intend to one day build a hotel at the site. He did not reveal the sale price but said it was in the range of the asking price, which was $1,899,000.
The plot of land encompasses almost five acres and includes the shuttered restaurant, a former ice cream shop and a small building now littered with graffiti. The fast-food franchise closed unexpectedly in November. When someone wants to develop a new commercial real estate property, it’s best to know how to navigate state and local laws so the project can move quickly.
Source: South Whitehall Patch, “Burger King Property Sold to ‘Hotel Hamilton,'” Mary Ellen Alu, June 6, 2012