A grocery-anchored shopping center in Bucks County, Feasterville Plaza, has sold for $18.5 million, 8% less than its 2011 sale price, according to property records. The 110,000-square-foot center at 1045 Bustleton Pike in Feasterville was purchased by an entity owned by Nandish Patel, founder of Phoenix Nexus Enterprises. The previous owner, FTP Feasterville Plaza LP, acquired it from Federal Realty Trust for $20 million. Feasterville Plaza spans over 12 acres at the intersection of Street Road and Bustleton Pike, just 2 miles from the Pennsylvania Turnpike and Route 1, and is fully occupied. Tenants include Bell’s Market, Altitude Trampoline Park, Hollywood Tans, Wings to Go, and an Abington Jefferson Health OB/GYN office.

*Article courtesy of Philadelphia Business Journal

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