COMMERCIAL RETAIL
DEVELOPMENT
Summit has over 25 years of experience in commercial real estate development including the successful development of over 125 CVS Pharmacy locations and over 20 Wawa convenience store locations.
The following case studies are offered as examples of our unique understanding of the obstacles and complexities of the development process and our approach in providing practical and effective solutions.
National Convenience Store
Cedar Crest Boulevard & Chestnut Street
Emmaus, PA
CHALLENGE:
Can a residentially-zoned site located in a dense commercial corridor be redeveloped for a national convenience store chain while simultaneously addressing the traffic and pedestrian safety concerns of the community? The long vacant site was situated at the heavily trafficked intersection of Cedar Crest Boulevard and Chestnut Street in Emmaus. The site was also located within close proximity to the existing Chestnut Street retail corridor and the Emmaus High School providing significant pedestrian traffic and associated concerns.
Based on prior meetings with the Borough of Emmaus staff, Summit Realty Advisors was made aware of the pedestrian safety and vehicular traffic concerns of the Borough and its residents. Careful consideration would need to be given to the design of the required pedestrian and traffic facilities to address the concerns of the Borough and obtain the support for the required rezoning and land development approvals.
In addition, due to the presence of a stream crossing on the Cedar Crest frontage, a continuous pedestrian sidewalk from the Emmaus High School to the property was unable to be installed. Therefore, pedestrians were directed to leave the existing sidewalk and proceed across the shoulder of the road creating a potentially dangerous pedestrian experience.
SOLUTION:
Working with our team of traffic and civil engineering consultants, Summit Realty Advisors developed a coordinated program to simultaneously address the pedestrian and vehicular traffic concerns of the Borough. Summit, working with the Borough and the Pennsylvania Department of Transportation, developed a series of access and egress turning restrictions and installed a road to provide a direct vehicular connection to a signalized intersection on Chestnut Street satisfying the Borough’s concerns regarding vehicular traffic. Similarly, Summit, working with the Borough, agreed to install a pedestrian bridge providing a continuous pedestrian path from the Emmaus High School to the property satisfying the Borough’s concerns regarding pedestrian safety.
BENEFIT:
A long vacant underutilized site is being safely redeveloped and placed into productive use as a new convenience store. The existing pedestrian safety and vehicular traffic concerns were addressed during this redevelopment project.
National Retail Pharmacy
625-629 Lancaster Avenue
Wayne, PA
CHALLENGE:
Can a former historic inn and the development of a national chain drug store coexist on the same site? The subject property had been in continuous operation since the late 1700's. Once a tavern along the nation’s first turnpike, the Old Covered Wagon Inn was a Main Line institution and a beloved historic structure to many local residents.
The development challenges included the incorporation of the existing historic fieldstone building into the development of the property taking into account the required traffic circulation, visibility and parking requirements for a modern pharmacy.
In addition, a long term plan needed to be developed to address the restoration, preservation and ongoing maintenance of the existing historic structure.
Similarly, another unique challenge was developing an exterior architectural treatment for the pharmacy building that was complimentary to the character of the existing historic fieldstone building.
SOLUTION:
Working with our team of land planners, architects and historic consultants, Summit Realty Advisors prepared a land development plan that did not require the demolition of the historic fieldstone structure and permitted it to remain in place. Summit Realty Advisors then developed plans for the complete restoration and preservation of the historic structure. Following the restoration and preservation efforts, a long term maintenance agreement was developed to maintain the historic structure.
Recognizing the sensitivity of the local community to the historical character of the existing fieldstone building, Summit Realty Advisors worked with representatives of the national chain pharmacy to develop a special architectural treatment for the pharmacy building that incorporated a stone façade, sloped roofs and stone knee walls surrounding the site matching the existing building.
BENEFIT:
An historic structure was
restored, preserved and
successfully incorporated
into the development
of a new freestanding retail
pharmacy.
