Pennsylvania

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Investment salesNewsPennsylvania

Marcus & Millichap Negotiates $6 Million Sale of Retail Property in Pottstown, Pennsylvania

by Abby Cox

Pottstown, Pa. — Marcus & Millichap has negotiated the $6 million sale of the Upland Square retail pads, which are outparcels to the Upland Square Shopping Center, a 400,716-square-foot power center in Pottstown, approximately 20 miles east of Reading. The two buildings, which were built in 2009 and 2016, total 10,944 square feet. The property features three retail suites and was fully occupied at the time of sale. Tenants include Aspen Dental, Starbucks Coffee and Chili’s. Anchored by Giant, Upland Square Shopping Center sits adjacent to the retail outparcels and features …

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Ritas-Richland-Hills
NewsPennsylvaniaRestaurants

Rita’s Italian Ice & Frozen Custard Plans to Double New Signings in 2026

by Abby Cox

Philadelphia — Rita’s Italian Ice & Frozen Custard is on track to double its 2026 new shop signings. Rita’s has experienced a 100 percent increase in franchise ownership inquiries compared with 2025. Driven by the brand’s real estate strategy, including second-generation restaurant conversions and drive-thru locations, the concept is expanding outside of its core Mid-Atlantic market to the Midwest and south-central United States. According to Rita’s, drive-thru shops generated 38 percent higher average gross sales in 2025 than comparable non-drive-thru locations. Founded in Bensalem, Pennsylvania, in 1984, Rita’s Italian Ice & …

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Dollar-General_PA
Investment salesNewsOhioPennsylvania

CBRE Arranges $22.7 Million Sale of 18-Property Dollar General Portfolio in Pennsylvania, Ohio

by Abby Cox

Pa. and Ohio — CBRE has arranged the $22.7 million sale of an 18-property, net-leased retail portfolio in Pennsylvania and Ohio. Totaling 174,078 square feet, the portfolio was fully occupied by Dollar General at the time of sale. Michael Shover, Matthew Gorman, Thomas Finnegan, Robert Thompson and Nick Holtz of CBRE represented the seller, Miller Bros. Construction, and the buyer, Realty Income, in the transaction. The Pennsylvania-based properties were located in the cities of Tioga, Bangor, Fawn Grove, Jersey Shore, Bellefonte, Berrysburg, Greencastle, Schellsburg, Oxford, Milan, Hazle Township, Newburg, Burlington and Beaver Meadows. The Ohio-based properties …

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The-Meridian
Grocery-anchoredInvestment salesNewsPennsylvania

TPG-Led Investor Group Acquires Shopping Center Owner ECHO Realty in $2 Billion Deal

by Abby Cox

Pittsburgh — TPG Real Estate has acquired ECHO Realty, a full-service owner and operator of grocery-anchored retail real estate, in a transaction valued at $2 billion. TPG, a global asset management firm based in San Fransisco, partnered with global investment groups PSP Investments, La Caisse and Norges Bank Investment Management for the transaction. “Our more than two decades of building and operating neighborhood, necessity-based shopping destinations demonstrate the enduring demand for grocery-anchored retail close to home,” says Thomas Karet, founder and CEO of ECHO. “With TPG’s investment and business-building expertise, …

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Whitehall-Plaza
Investment salesNewsPennsylvania

JLL Arranges Sale of 365,071-Square-Foot Shopping Center in Pennsylvania’s Lehigh Valley

by Abby Cox

Whitehall, Pa. — JLL Capital Markets has arranged the sale of Whitehall Plaza, a 365,071-square-foot open-air center located in the Eastern Pennsylvania community of Whitehall. The buyer, Mark Gold of Mishorim Gold Group, internally represented the firm in the purchase. Jim Galbally, Patrick Higgins and JP Colussi of JLL represented the seller in the transaction. Mishorim Gold Group has already initiated the first phases of Whitehall Plaza’s renovation, with plans to invest in a comprehensive revitalization of the property. More than 100,000 square feet of space is already under contract. Tenants …

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Investment salesNewsPennsylvania

Roadside Development Acquires Galleria at Mt. Lebanon in Pittsburgh

by Abby Cox

Pittsburgh — Washington, D.C.-based Roadside Development has acquired Galleria at Mt. Lebanon, a 168,000-square-foot shopping center located in the Mt. Lebanon neighborhood of Pittsburgh. The Galleria at Mt. Lebanon was originally constructed as a Kaufmann’s department store and later converted to an indoor mall in 1988. Current tenants at the two-story shopping center include Anthropologie, Pottery Barn, Williams-Sonoma, Orvis, Evereve, AMC Theatres and Club Pilates, along with restaurants such as The Yard Gastropub, Houlihan’s, Mitchell’s Fish Market, Panera Bread and Starbucks. Roadside’s plans for the property are currently in development. In …

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cvs-pharmacy-pa
Investment salesNewsPennsylvania

Cooper Commercial Negotiates $5.5 Million Sale of Single-Tenant Retail Property in Sinking Spring, Pennsylvania

by Abby Cox

Sinking Spring, Pa. — Cooper Commercial Investment Group has negotiated the $5.5 million sale of a single-tenant retail property located in Sinking Spring, approximately 60 miles southeast of Philadelphia. CVS Pharmacy occupies the 13,225-square-foot building on a triple-net lease. Dan Cooper of Cooper Commercial Investment Group represented the seller, a private investor based in Pennsylvania. A West Coast-based 1031 exchange buyer purchased the property.

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Franklin Village Plaza
ConnecticutFinanceGrocery-anchoredMassachusettsNew JerseyNewsPennsylvania

Newmark Group Arranges $415 Million in Financing for Northeast Grocery-Anchored Retail Portfolio

by Abby Cox

New York — Newmark has arranged a $415 million loan to refinance a retail portfolio across Connecticut, Pennsylvania, New Jersey and Massachusetts. Totaling 2.4 million square feet, the portfolio comprises 13 open-air centers that are located in densely populated infill markets. Twelve of the properties are anchored by grocery tenants. Jordan Roeschlaub, Nick Scribani, John Caraviello and Dan Axelson and Adam Doneger of Newmark secured the financing through HPS Investment Partners on behalf of a separate managed account for the borrowers, DRA Advisors and KPR Centers.

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Dollar-General
Investment salesNewsPennsylvania

Marcus & Millichap Brokers Sale of 10-Store Dollar General Portfolio in Pennsylvania

by Abby Cox

Pennsylvania — Marcus & Millichap has brokered the sale of a portfolio of 10 Dollar General stores in Pennsylvania. The addresses were not disclosed, but the stores are all new construction and operate under 15-year, triple-net leases. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group of Marcus & Millichap brokered the deal. The seller was a developer, and the buyer was an institutional investment firm. “This marks our fourth Dollar General portfolio closing in the past 12 months, with investor  demand remaining strong across both private and …

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Rita’s Italian Ice & Frozen Custard
Company newsDevelopmentNewsPennsylvaniaRestaurants

Rita’s Italian Ice & Frozen Custard Surpasses 600 Locations in 2025

by Abby Cox

Philadelphia — Rita’s Italian Ice & Frozen Custard finished 2025 with more than 600 locations worldwide, with further expansion planned in the year ahead. In 2025, Rita’s opened 35 new shops systemwide, including new shop openings across the Southeast, Texas and Mid-Atlantic, as well as the brand’s first-ever location in Louisiana. This year, Rita’s expects to open approximately 45 additional shops. Drive-thru development emerged as one of Rita’s growth drivers in 2025. Across the system, the company reports that drive-thru locations are delivering more than 30 percent higher performance compared to …

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