Hatboro CVS Building Sold As Downtown Revitalization Plans Continue

HATBORO, PA — Hatboro's downtown revitalization took another step forward this weekend.

Main Street Hatboro announced on Monday that the former CVS building, which has sat vacant for several years and is considered one of the borough's "anchor" properties, has been sold to a property investor.

Officials did not disclose on Monday who the new tenants of the property might be.

"Sales price, investor, and tenant prospects are confidential at this time," Main Street Hatboro said in a statement.

Officials said they had courted several prospective tenants before the sale was finalized. Those tenants included Trader Joe's, Chickie and Pete's, multiple restaurants, fitness centers, a TV studio, a liquor store, a movie theatre, a performing arts center, a national furniture and a children's apparel store, among others. However, agreements could not be finalized with any of them.

"All of these previous prospects were unable to, did not want to or were prohibited by the high asking and lease prices to secure a deal on the property. Hatboro demographics play an important role in attracting or discouraging investment," Main Street Hatboro added in their statement.

More information regarding the new purchase will be provided as it becomes available.

Image via Main Street Hatboro