A joint venture of ShopOne Centers REIT (New York), Pantheon (London), and a global institutional investor has acquired two open-air retail centers in Bucks County for a combined $28.9 million.
The group purchased Goodnoe’s Corner in Newtown for $15.38 million and Village Center in Bensalem for $13.55 million. The sale was announced in March, with pricing recently disclosed in property records.
Goodnoe’s Corner, a fully leased 34,660 SF center at 290 N. Sycamore St., features tenants such as Firstrust Bank, AT&T, Apple Cleaners, and Jules Thin Crust. Village Center, at 2363 Pasqualone Blvd., spans 87,705 SF and is anchored by Acme, with other tenants including Wells Fargo and Children’s Dental Health.
The acquisitions bring the joint venture’s portfolio to 20 shopping centers totaling over 2 million square feet. ShopOne specializes in grocery-anchored retail, while Pantheon is a global investment firm.
The deal comes amid a flurry of regional retail activity, including recent sales of Eagle Plaza in Voorhees ($41.7M), Shoppes at English Village in North Wales ($53.6M), and the listing of The Court at Cottman in Northeast Philadelphia.
*Article courtesy of Philadelphia Business Journal
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