940's still booming: Mount Pocono Plaza adding Five Below under new ownership

The Route 940 corridor continues to bustle with new businesses, developments and acquisitions. New stores, plazas, restaurants, warehouses and road construction line the highway between Mount Pocono and Tobyhanna just off Interstate 380.

Mount Pocono Plaza is under new ownership and getting a new look. The 195,735-square foot property is anchored by Weis.

Agora Commercial is a Pennsylvania-based company that purchased the plaza in December. They also purchased the West End Plaza in 2020.

Coming to the Mount Pocono shopping strip is a Five Below, between the new Harbor Freight and the Planet Fitness. Five Below is a discount retailer known for trendy products, candy and other goods targeting a younger customer. There's another Five Below location at the Shoppes in Stroud plaza in Stroudsburg.

The Mount Pocono location is projected to open some time this summer.

Also, breaking ground on the property in the the next few weeks will be a new Popeye's restaurant.

John Skeparnias, Principal with Agora Commercial, said they already have some "interested parties" that are looking to lease the remaining three spaces in the plaza.

"We just purchased the property a few weeks ago, so it is fresh," said Skeparnias. "But we are already looking to bring some LED lights into the parking lot and really just bring uniformity to the entire center that I don't believe it had before. These are just some of the upgrades we'd like to start with."

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Mount Pocono Borough Manager Joshua Walker expressed excitement over the recent boom in businesses. In addition to the Mount Pocono Plaza announcement, the new Sparkle Car Wash in the The Hirshland development property on Route 940 is set to open next month. The property is home to a host of recent new businesses, such as Taco Bell, Mattress Warehouse, Verizon, Advanced Auto Parts and Wawa.

Just further down along Route 940 and wrapping around the the PA 611 corner is the construction of a new 1.2 million-square foot warehouse, located at 3379 Pocono Summit Road. Visible from both routes, this 85 acre development is owned by the Newland Capital Group.

Rocio Budetta, Managing Director with Newland Capital Group said the ongoing construction is expected to be completed by the second quarter of 2024. According to Budetta, a tenant has already been secured with a seven-year lease upon completion, and anticipates up to 550 new jobs will be created.

"This means that the tenant will generate jobs day one, and the warehouse will not be sitting empty," Budetta explained. "The company occupying the building will be handling distribution of clothing items. The tenant is not new to the Mount Pocono area. In fact, the tenant has current operations in the area and is looking to grow and hire more people by expanding into the to-be-constructed warehouse."

Route 940 continues development

Route 940 has seen a lot of development and business expansion in recent years. It's conveniently located off Interstate 380, which will also be undergoing new ramp construction.

According to Tobyhanna Township Manager Robert Bartel, construction at the Stillwater Drive and Route 940 intersection is wrapping up as they are relocating that intersection approximately 100 yards farther in anticipation of the next phase of construction for the new Interstate 380 off ramp and a traffic light on Route 940.

GIANT Food Stores announced a new store for the Route 940 area prior to the COVID-19 pandemic, but there hasn't been any updates on the proposed development, Bartel said. In June of 2021, GIANT was approved for a liquor license transferred from another location. However, there has been no movement on the project since.

Representative Maureen Madden (D-115) said she is excited about all the new businesses and development in the area.

"I like that the mountain has accessibility to grocers, gas stations, retail shops and a Starbucks. It's good for our community and it's good for tourism that we bring here." Madden said. "To have Wawa and what they give to the community, this is all positive stuff that draws people to the smaller businesses as well."

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Madden described when her office first opened many years ago and there was only one gas station and there were hardly any businesses at all. "It was tough for my staff, they were so isolated up here at the Mountain Center. Now they have so many choices."

Madden continued: "People should not have to travel 20 to 25 miles for the nearest resource, whether it's WIC, Habitat for Humanity, AARP and such senior services. Now there is a St Luke's' family medical practice in the Mountain Center too.

Madden also touted a recent $3.7 million grant awarded to the Monroe County Industrial Development Authority by the state's Redevelopment Assistance Capital Program, with the goal of furthering a proposed Amtrak passenger rail expansion through the Poconos. A formal proposal for the expansion is due to the Federal Railroad Administration by March 20.

This article originally appeared on Pocono Record: Mount Pocono Plaza makes way for Five Below, Popeyes