The hot corner: Retail opportunity available at 32nd, Chestnut streets in Camp Hill

A corner property at 32nd and Chestnut streets in Camp Hill -- the last of the eight corners without major commercial development where the Camp Hill Bypass intersects with Market Street and Chestnut Street/Trindle Road -- is available for $2.2 million, according to Lemoyne-based RSR Realtors.

Consolidated Properties, based in Wormleysburg, is selling the 1-acre parcel at 3117 Chestnut St. It shares an intersection with Starbucks, a Giant gas station, Arby's and other national and regional brands.

The property was recently rezoned to commercial general, which broadens the business uses, as part of a new borough zoning ordinance.

Currently, the tract has two office buildings that are home to an insurance company, an accountant and two attorneys. There also are apartments.

Those buildings would be demolished to make way for a new use, according to Consolidated Properties.

Jim Koury, RSR's listing agent for the property, is expecting another high-end retail use, or maybe a bank or urgent care center.

"Numerous developers" have already expressed interest, he said: "Retailers are looking for visibility and traffic count, and you've certainly got it here."

Scott Staiger, controller for Consolidated Properties, said he expects that any actual development would go through at least two years of review, including traffic studies, the borough's land development process and work with the state Department of Transportation on access points for the new use.

"All tenants will have ample notice and could move to other Consolidated Properties' homes when the time comes," he said.

Mike Serluco, owner of Consolidated Properties, acquired the properties on the tract between 2007 and 2013.

His company is responsible for compiling four nearby tracts in the 3300 block of Trindle Road that became home to a Fulton Bank branch in 2013.

The Giant Food Store near PinnacleHealth's West Shore Hospital off the Wertzville Road exit of Interstate 81 was built on 100 acres Serluco and a partner bought in the 1980s.

"Anything in the way of bigger, better property brings in more revenue for the borough, when you compare it with a single-family home from a real estate tax standpoint," Staiger said of the Camp Hill site.

Source: Central Penn Business Journal