Philly-based investors buy properties in downtown W-B

i Jul 15th 2016

By Denise Allabaugh, Wilkes-Barre Citizens Voice

Philadelphia-based investors purchased a 1.2-acre parcel of property on Public Square and South Main Street in downtown Wilkes-Barre for $4 million, according to documents filed in Luzerne County Recorder of Deeds.

Odin Properties in Philadelphia, identified as Wilkes-Barre Square LP in a June 16 deed, bought the property from a partnership called Wilkes-Barre Center Associates.

Grantors include the estate of Alan Finlay, Robert Finlay of Humford Equities; McCole Associates, William Lazor, John McCole, Edward Leh, Frank Henry, Diane Haddle and Adrian, Richard and Marion Pearsall, according to the deed.

Properties purchased include the site of the closed Susquehanna Alehouse that formerly housed the Hardware Bar, Bourbon Street Saloon and Reflex Night Club at 12 S. Main St. as well as Dunkin’ Donuts, Rodano’s and Franklin’s.

A call to Odin Properties in Philadelphia was not returned on Thursday.

Its website states the company identifies and acquires underperforming assets and transforms them to “realize long-term value for its investors, tenants and the neighborhoods that surround them.”