A retail property portfolio in Horsham has been listed for $18.3 million. As a result, multiple sale strategies are now being considered.
The offering includes five parcels totaling 7.68 acres at 101 Easton Road. The site sits at the intersection of Route 611 and Blair Mill Road. In addition, it is located about three miles north of Willow Grove Park Mall.
The properties are currently owned by Arctrust Private Capital. The firm acquired the site in 2017 for $4.9 million. Since then, the development has been fully built out with national tenants.
The site includes a Wawa, a CVS, and a P.J. Whelihan’s Pub and Restaurant. The Wawa and CVS were completed in 2018. Meanwhile, the restaurant opened in early 2020.
Two undeveloped pad sites are also included at the rear of the property. Therefore, additional development potential remains.
Notably, each parcel is being offered individually or in various groupings. As a result, flexibility has been introduced for potential buyers.
Previously, the entire site was marketed as a single offering. However, no transaction was completed. Therefore, the updated strategy is expected to attract a broader pool of investors.
Ultimately, smaller deal sizes are expected to appeal to more targeted buyers while expanding overall interest in the property.
*Article courtesy of Philadelphia Business Journal
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