The founder and president of the vacation dealer, John Dowd, purchased the former state Department of Labor & Industry building from the Girard Estate for $3.25 million and plans $1 million in renovations to the 47,000-square-foot building. Sundance will move from its current home on Kidder Street and occupy about one-third of the renovated building, which it will use as corporate headquarters and a local marketing and sales office. The rest of the building, to be dubbed the Arena Commons, will be leased.
Despite the building’s desirable location at one of the busiest crossroads in Wilkes-Barre Township, it was on the market for about 18 months. Listing agent Mike Detter, of Hinerfeld Commercial Real Estate, said the seller was holding out for a buyer who saw value in the building. Land in the area has been selling for between $400,000 and $500,000 per acre, and the building lot was just over four acres.
“Developers would have liked to buy it for $2 million and tear down the building, but we wanted to wait for someone who both liked the location and saw value in the building,” Mr. Detter said.
While the Internet has nearly eliminated walk-in travel agencies, Sundance has been able to survive because of its unique approach. Its customers buy several weeks of vacations in advance, and then select their destinations from Sundance’s inventory of condominiums in vacation destinations.
“We are in a different niche, and we are growing,” said Kathy O’Mara, communication director for Sundance.
The building has more than 200 parking spaces and is off Interstate 81, across the street from the Wachovia Arena.
Property facts
Location: 264 Highland Park Blvd., Wilkes-Barre Township
Sale price: $3.25 million
Land: 4 acres
Building: 47,000 square feet
Old use: Former state Department of Labor and Industry building.
New use: Headquarters of Sundance Vacations and leased office space.
– Courtesy of The Times-Tribune Business Weekly
