501 Crescent Avenue
Reading, PA

501 Crescent Avenue is a single story, multi-tenanted office / warehouse building with a small roadside retail component consisting of 39,997 square feet of rentable space situated on 2.34 acres of ground in Reading, Berks County, Pennsylvania. The building was constructed of structural steel, masonry block, brick, and glass in 1979 and is zoned Highway Commercial. The property has 86 parking spaces, is serviced by public utilities, and is 81% occupied by two tenants. Current tenants at the property include PA CareerLink and Papa Johns Pizza.

Tripoint Properties acquired 501 Crescent Avenue in September 2006 with the intention of completing necessary repairs, repositioning the property, and ultimately improving the leasing at the property. The property, at the time of acquisition, was 62% occupied and in need of interior and exterior improvements. Tripoint Properties began a $450,000 improvement program at the property in October 2006 and completed the work in December 2006. Improvements at the property included the replacement of rooftop HVAC units, roof repair, landscaping, mechanical system repairs and upgrades, as well as the design and completion of a 6,733 square foot office fit out. In December 2006, PA CareerLink signed a lease extension and expanded their presence at the property to almost 30,000 square feet.

The property is conveniently located in Reading, PA on the Northeast corner of Crescent Ave and the 5th Street Highway (Rt. 222) in close proximity to the intersection of Route 12 (Warren Street Bypass) and the 5th Street Highway, just south of the Fairgrounds Square Mall. 501 Crescent Avenue is the third stop on the BARTA bus Route 1.

Leasing Information