Quartermaster Plaza Back on Market After a Year

Quartermaster Plaza on the market again

A year after buying the Quartermaster Plaza shopping center in South Philadelphia, a joint venture of New York firms DRA Advisors and KRP Centers are looking to sell the property in a deal that could fetch more than $100 million.

DRA Advisors and KRP Centers bought the 456,208-square-foot shopping center last year as part of a 33-property portfolio from Massapequa, New York-based Cedar Realty Trust for $879 million. The sale price of Quartermaster Plaza was $100.1 million, property records show. In 2014, Cedar Realty Trust had bought the property from Cleveland-based Forest City Ratner Cos. for $92.3 million.

*Article courtesy of Philadelphia Business Journal

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