ALLENTOWN, PA-Three leases aggregating 37,900 sf have filled the two-story building at 1501 Lehigh St., and the Allentown School District has inked a five-year lease for 30,000 sf in the adjacent strip center at 1517 Lehigh St. Space in both of the buildings was vacated when the Allentown Business School exited for relocation to its own new building in Stabler Business Center.

Christopher Shiban of locally based Summit Management and Realty Co. negotiated the transactions on behalf of the buildings’ separate owners. The three new tenants in the 1501 property are St. Luke’s Health Care, which opened a 25,000-sf medical office center; Easter Seals of Eastern PA, which took 4,900 sf, and Lehigh Valley Child Care with 8,000 sf.

One small-space tenant, unrelated to the business school, remained in the 38,000-sf building. Shiban says the aggregate value of the new agreements in this building is $2.3 million. He tells, “the average asking rent rate is $10 per sf, triple net.”

Harris Weinstein, a private investor, is the owner. “The property was once a grocery store, and Weinstein completely renovated it and added a second floor when the business school first leased the property more than 10 years ago,” Shiban says. It was also updated when the school exited. The property was constructed in 1953.

In a separate agreement, Shiban represented private owner Dan Hughes in filling the space at 1517 Lehigh St. “That, formerly a bowling alley, was converted for Allentown Business School, and this transaction represented a sweetheart deal for the school system,” he says. “It is a lower-floor, windowless space, and the rent rate is $4 per sf, triple net. The aggregate value for the five-year term is $640,000.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.