CBRE Arranges $26.5M Sale of Two-Property Shopping Center Portfolio in Pennsylvania

by Katie Sloan

Pottstown and Reading, Pa. — CBRE Group Inc. has arranged the sale of North End Shopping Center in Pottstown and Madeira Plaza in Reading.

Medipower Overseas Co. acquired the two-property shopping center portfolio from SIN Ventures for $26.5 million. At the time of closing, the 103,905-square-foot North End Shopping Center was 94 percent occupied by Redner’s Warehouse Market, CVS/pharmacy, Dollar General and PA Wine & Spirits.

The 164,917-square-foot Madeira Plaza was fully occupied at the time of sale by Redner’s Warehouse Market, Big Lots, OfficeMax, Rite Aid and Dollar General. Brad Nathanson of CBRE represented the seller and identified the buyer in the transaction.

You may also like