Pennsylvania

Whole-Foods-Plymouth-Meeting-Mall

Plymouth Meeting, Pa. — Pennsylvania Real Estate Investment Trust (PREIT) has sold a retail property leased to Whole Foods Market in Plymouth Meeting, a northwestern suburb of Philadelphia, for $27 million. The 65,155-square-foot store, which is located within Plymouth Meeting Mall, features a taco truck, rooftop patio, onsite pub and private event/meeting space. Jim Galbally, Chris Munley and Colin Behr of JLL represented PREIT in the transaction. The buyer was an undisclosed institutional investment firm.

0 FacebookTwitterLinkedinEmail

Altoona, Pa. — Axiom Capital Corp. has arranged the $11 million refinancing of a 222,139-square-foot, single-tenant retail property located in Altoona. Walmart occupies the property, housing a grocery store, auto care center, pharmacy and a hair salon. The names of the borrower, a private investment group, and direct lender, a bank, were not disclosed.

0 FacebookTwitterLinkedinEmail
mount-pocono-plaza-pa

Mount Pocono, Pa. — Agora Commercial has acquired Mount Pocono Plaza, a 195,735-square-foot shopping center located in the northeastern Pennsylvania community of Mount Pocono, for $17 million. Weis anchors the property, and other tenants include Ollie’s Bargain Outlet, Harbor Freight, Planet Fitness and Dollar Tree. The center’s occupancy rate at the time of sale was roughly 90 percent. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Heidenberg Properties Group, in the transaction.

0 FacebookTwitterLinkedinEmail
Westfall-Town-Center

Metamoras, Pa. — Larken Associates has acquired Westfall Town Center, a 203,907-square-foot shopping center located in Matamoras, at the nexus of the New York-New Jersey-Pennsylvania border. A 73,000-square-foot ShopRite anchors the property, and other tenants include Flagship Cinemas, T.J. Maxx, Planet Fitness, Dollar Tree and Wendy’s. The seller was CenterPoint Properties. Derek Zerfass and Scott Horner of Colliers represented both parties in the transaction.

0 FacebookTwitterLinkedinEmail
Ashbridge-Square-Downingtown-Pennsylvania

Downingtown, Pa. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Ashbridge Square, a 386,248-square-foot retail power center in Downingtown, a western suburb of Philadelphia. Built in 2000, Ashbridge Square was 88 percent leased at the time of sale to tenants such as The Home Depot, Ashley Furniture, Dollar Tree, Jo-Ann Fabrics, Christmas Tree Shops, Staples, Chick-fil-A, Patient First and Wine & Spirits. Brad Nathanson of IPA represented the undisclosed seller in the transaction and procured the buyer, a partnership between regional firms …

0 FacebookTwitterLinkedinEmail
Greater-Lewistown-Plaza-Burnham-Pennsylvania

Burnham, Penn. — Axiom Realty Services has acquired Greater Lewistown Plaza, a 177,752-square-foot shopping center in Burnham. Weis Markets anchors the center, which was 94 percent leased at the time of sale. Other tenants include J.C. Penney, Dunham’s Sports, Geisinger Health and Citizens Bank. Bennett Williams of Bennett Williams Commercial represented the seller, Northpath Investments, in the transaction.

0 FacebookTwitterLinkedinEmail
Loyal-Plaza-Williamsport-Pa

Williamsport, Pa. — First National Realty Partners (FNRP) has acquired Loyal Plaza, a 289,000-square-foot shopping center located in Williamsport. A 67,000-square-foot Giant Food anchors the property, which is leased to tenants including Hobby Lobby, Planet Fitness, Rite Aid, Advance Auto Parts and Truist Bank. Colin Behr and Chris Munley of JLL represented the undisclosed seller in the transaction.

0 FacebookTwitterLinkedinEmail
Lewistown-Plaza-Burnham-Pa

Burnham, Pa. — Northpath Investments has sold Lewistown Plaza, a 177,752-square-foot retail center located in Burnham. Axiom Realty acquired the property, which was 94 percent occupied at the time of sale. Weis Markets anchors the center, which features tenants including JCPenney, Dunham’s Sports, Geisinger Health and Citizens Bank. Bennett Williams represented Northpath in the transaction.

0 FacebookTwitterLinkedinEmail
City Ave

Philadelphia — City Avenue Center, a 20,220-square-foot shopping center located in Philadelphia, has sold for $24.6 million. Brad Nathanson, David Crotts and Dean Zang of Marcus & Millichap’s Institutional Property Advisors (IPA) arranged the sale on behalf of an undisclosed seller and secured the buyer, a Maryland-based family office. The center, which is shadow-anchored by Target, was fully leased at the time of sale. Tenants include Chipotle Mexican Grill, Verizon and Sleep Number. A PNC Bank outparcel also occupies the property.

0 FacebookTwitterLinkedinEmail
willow-grove-shopping-center-groundbreaking-second-phase

Willow Grove, Pa. — Federal Realty Investment Trust has broken ground on the second phase of construction at Willow Grove Shopping Center, a 211,000-square-foot development located in Willow Grove. The second phase, which is scheduled for completion in the summer of 2023, will include the delivery of new dining and public amenities, as well as an 18,000-square-foot outparcel building.

0 FacebookTwitterLinkedinEmail