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Pennsylvania

Wawa
DevelopmentIndianaNewsPennsylvania

Wawa Opens First Three Stores in Indiana, Plans Five More

by Abby Cox

Wawa, Pa. — Pennsylvania-based gas station and convenience store chain Wawa has opened its first three stores in Indiana. Located in Daleville, Nobleville and Clarksville, the new stores are the first of eight stores anticipated to open by the end of the year. Additional store locations in Indiana are planned in Brownsburg, Cumberland, Plainfield and Westfield. Wawa expects to open a store in Indianapolis at 3835 E. 96th St. in July. Wawa’s portfolio spans 1,125 stores, including store locations in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Florida, North Carolina, Alabama, …

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Retail and Office Mixed-Use Property
Investment salesMixed-useNewsPennsylvania

Tempus Realty Partners Acquires 125,000-Square-Foot Mixed-Use Retail, Office Property in Pittsburgh for $43.8 Million

by Abby Cox

Pittsburgh — Tempus Realty Partners has acquired a 125,000-square-foot mixed-use property located in Pittsburgh’s Strip District for $43.8 million. The former warehouse has been redeveloped to include 94,580 square feet of office space and 31,405 square feet of retail. The property is fully leased to tenants including Aurora Innovation, Balvanera, Orr’s Jewelers and Design Within Reach.

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Foot Locker
Company newsNew YorkNewsPennsylvania

DICK’S Sporting Goods to Acquire Foot Locker for $2.4 Billion, Keep Brand Intact

by Abby Cox

Pittsburgh and New York City — DICK’S Sporting Goods Inc. has entered into a definitive merger agreement with footwear and apparel retailer Foot Locker Inc. Under the agreement, sporting goods retailer DICK’S will acquire Foot Locker for an equity value of roughly $2.4 billion and an enterprise value of $2.5 billion.  Foot Locker operates approximately 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia and New Zealand. Foot Locker’s portfolio of brands also includes Kids Foot Locker, Champs Sports, WSS and atmos.  DICK’S plans to operate Foot …

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Company newsFinanceNewsPennsylvania

Rite Aid Files for Chapter 11 Bankruptcy, Company to Explore Acquisition Opportunities

by Abby Cox

Camp Hill, Pa. — Rite Aid has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey, marking the second time in 24 months that the Pennsylvania-based convenience and drugstore chain has filed for voluntary bankruptcy protection. The previous filing in October 2023 preceded the closure of hundreds of stores across the country. The company is currently exploring opportunities to be acquired by outside entities. The company did not explicitly state how many of its stores would be immediately impacted but noted that it would …

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Suburbia Shopping Center
Grocery-anchoredInvestment salesNewsPennsylvania

JLL Arranges Sale of 154,219-Square-Foot Center in Pottstown, Pennsylvania

by Abby Cox

Pottstown, Pa. — JLL Capital Markets has arranged the sale of Suburbia Shopping Center, a 154,219-square-foot retail property located in Pottstown, approximately 20 miles east of Reading. Originally built in 2003, the property spans 25.6 acres. GIANT grocery store anchors the center, which was 85 percent leased at the time of sale. Additional tenants at the center include Dollar Tree, Starbucks Coffee, UPS Store and Tower Health. Jim Galbally and Patrick Higgins of JLL Capital Markets Investment Sales and Advisory team represented the seller, Gambone Management Co., in the transaction. Powell …

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Exton Square
Investment salesNewsPennsylvania

JLL Brokers $34.3 Million Sale of Shopping Center in Exton, Pennsylvania

by Abby Cox

Exton, Pa. — JLL Capital Markets has brokered the $34.3 million sale of Exton Square, a 990,000-square-foot super-regional shopping center located in the Philadelphia suburb of Exton. Abrams Realty & Development acquired the property from PREIT. Originally built in 1973, the 75-acre center was renovated in 2000. The property — which is shadow anchored by Whole Foods Market — features tenants including Boscov’s, Macy’s, Main Line Health and Round1 Entertainment. Jim Galbally, David Monahan, Patrick Higgins and Fran Coyne of JLL represented the seller in the transaction.

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Goodnoe's Corner
Grocery-anchoredInvestment salesNewsPennsylvania

Marcus & Millichap Brokers Sale of Two Retail Centers Totaling 122,365 Square Feet in Metro Philadelphia

by Abby Cox

Newtown and Bensalem, Pa. — Marcus & Millichap has brokered the sale of two retail centers in Pennsylvania totaling 122,365 square feet. The properties include Goodnoe’s Corner in Newtown and Village Center in Bensalem. Goodnoe’s Corner — originally built in 2008 — totals 34,660 square feet. Tenants at the property include AT&T Wireless, Madison Dental, Jule’s Thin Crust, Firstrust Bank, Apple Cleaners and Green Parrot Restaurant. Originally constructed in 1976 and renovated in 1999, Village Center is anchored by Acme Markets and comprises 87,705 square feet. Other tenants at the …

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Bensalem Shopping Center
Grocery-anchoredInvestment salesNewsPennsylvania

JLL Facilitates Sale of 109,057-Square-Foot Retail Center in Metro Philadelphia

by Abby Cox

Bensalem, Pa. — JLL Capital Markets has facilitated the sale of Bensalem Shopping Center, a 109,057-square-foot retail center in Bensalem, roughly 19 miles north of Philadelphia. The buyer and sales price were undisclosed. Built in 1972, the center is situated on approximately 9 acres. The property — which was fully leased at the time of sale — is anchored by Indian supermarket chain Patel Brothers. Additional tenants at the center include Dollar General, Advance Auto Parts and Unlimited PCS. Jim Galbally and Patrick Higgins of JLL Capital Market’s Investment and …

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LeasingNewsPennsylvania

Three Retail Tenants Open at High Pointe Commons in Harrisburg, Pennsylvania

by Abby Cox

Harrisburg, Pa. — High Pointe Commons, a 359,000-square-foot shopping center located in Harrisburg, has introduced its second wave of new retail tenants. The first wave of leases, which were announced within the past two years, include NYC Sugaring, FedEx, Fleet Feet, Five Below, Warhammer and LensCrafters. Additionally, three more tenants have joined the tenant roster this month, including men’s apparel store DXL Big + Tall, Crumbl Cookies, and AT&T, all of which are now open. Levin Management Corp. (LMC) leases and manages the property. Fred Younkin internally represented LMC in …

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Century Square
Investment salesNewsPennsylvania

Red Mountain Group Acquires 415,613-Square-Foot Shopping Center in West Mifflin, Pennsylvania

by Abby Cox

West Mifflin, Pa. — Red Mountain Group Inc. has acquired Century Square, a 415,613-square-foot regional shopping center located in West Mifflin, roughly 11 miles southeast of downtown Pittsburgh. Built in 1990 and renovated in 2016, the center is 82 percent leased. Anchors at the center include Lowe’s Home Improvement, Hobby Lobby, SHOP’n SAVE, Dunham’s Sports, Luxury Cinemas and Planet Fitness. The sales price was not disclosed.

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