New Britain, Pa. — JLL has brokered the sale of Town Center of New Britain, a 124,262-square-foot shopping center located in the Philadelphia suburb of New Britain. Giant Food anchors the center, which was built in 1990 and renovated in 2002. Tenants at the property, which was 91 percent leased at the time of sale, include Rite Aid, Dollar Tree, Verizon Wireless and AutoZone. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Milbrook Properties acquired the property for an …
Pittsburgh — Dick’s Sporting Goods has agreed to acquire outdoor retailer Moosejaw from Walmart. Founded in 1992, Moosejaw operates brick-and-mortar locations in Arkansas, Colorado, Illinois, Kansas, Michigan and Missouri, in addition to its e-commerce platform. “We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers,” says Todd Spaletto, senior vice president of Dick’s and president of the company’s specialty outdoor retailer, Public Lands. Moosejaw CEO Eoin Comerford will stay on following the acquisition, reporting to Spaletto. …
Chico, Calif. and Media, Pa. — At Home, a home décor and holiday retail chain, has opened two new stores this month. Located in Chico, California, and Media, Pennsylvania, both stores comprise 85,000 square feet each. The new openings bring the company’s total store count to 260.
Warrington, Pa. — JLL Capital Markets has arranged the sale of Creekview Center, a 134,980-square-foot shopping center located in the northern Philadelphia suburb of Warrington. A grocery store anchors the property, and other tenants include Chipotle Mexican Grill, Bank of America and Petco. Target and Lowe’s shadow anchor the center. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the undisclosed seller in the transaction. Goodman Properties acquired the center.
Philadelphia — Heidenberg Properties has sold Aramingo Plaza, a 64,163-square-foot retail center located in Philadelphia. Abrams Realty & Development acquired the property for an undisclosed price. Forman Mills anchors the center, which was built in 1920 and fully occupied at the time of sale. Other tenants include Citizen Bank, AT&T, Checkers and Vision Works. Christopher Munley, Jim Galbally and Colin Behr of JLL Capital Markets brokered the sale on behalf of Heidenberg Properties.
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.
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.
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.
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.
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 …