Bart Blatstein’s Tower Investments has paid $34 million to repurchase Riverview Plaza, a 236,217-square-foot retail center along the Delaware River in Philadelphia that the company developed in the late 1980s and later sold to Cedar Realty Trust Inc. in 2003. The property is 50% occupied. 

“I bought it back for less than I sold it for,” Blatstein said. 

Tower Investments sold Columbus Crossing, which totals 142,200 square feet, and Riverview Plaza at 1100-1400 Christopher Columbus Blvd. to Cedar for a combined $75 million. 

Across from Riverview Plaza, Blatstein has developed a grocer-anchored center that has a 46,000-square-foot Giant grocery store and room for an additional 42,000 square feet of retail space. With Riverview Plaza back in the fold, Blatstein controls nearly 350,000 square feet of retail space along the waterfront.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.