The Airport Square shopping center in Montgomeryville has been sold for $82.5 million, according to a source familiar with the deal, becoming the latest retail property in the area to change hands over the last few months. The 298,719-square-foot retail center at 801 Bethlehem Pike was bought by a fund advised by Wafra Inc., a… Read more »
A retail property that was known for six decades as the Cheltenham Square Mall and later redeveloped into Greenleaf at Cheltenham has sold for $69.5 million. Paramount Realty of Lakewood, New Jersey, bought the 400,851-square-foot center at 2385 Cheltenham Ave., adding to the real estate company’s growing portfolio of retail properties in the Philadelphia area…. Read more »
At Home, a Plano, Texas, retail chain that sells furniture and home décor, has signed an 85,985-square-foot lease at the Promenade at Granite Run. With the addition of At Home and some smaller pending deals, the 877,294 square feet of retail space at the property is 92% occupied, according to BET Investments Inc., which owns… Read more »
Eagle Plaza and Upland Square, two shopping centers at opposite ends of the Philadelphia region, have sold for a combined $114.7 million, continuing a trend of investors gravitating toward grocery-anchored retail properties. A Singaporean real estate firm invests in grocery-anchored retail, paid $85.7 million for Upland Square, a 400,674-square-foot center at 180 Upland Square Drive… Read more »
Reading Terminal Market is eyeing a fall 2022 completion for a long-awaited “festival street” that will leverage outdoor space in front of one of Philadelphia’s most popular attractions. Dubbed by Reading Terminal and city officials as a “transformation project,” the overhaul of the 1100 Filbert Street will add outdoor dining space, pop-up retail kiosks and… Read more »
A developer has purchased an historic building at 6th Street and Girard Avenue in Philadelphia for $1.5 million and plans to develop what was originally known as Farmers’ Market House & Hall into a mixed-use complex. The sale of the prominent property at 527-37 Girard Ave. took more than two years to get done —… Read more »
Lamar Cos., a New Jersey real estate company, has paid a bargain price of $60 million to buy the Shops at Valley Square, a 293,550-square-foot mixed-use lifestyle center in Warrington that is 70% occupied. The last time the property traded was in 2016 when a partnership involving Poag Shopping Centers of Memphis, Tennessee, and a real estate… Read more »
Wharton Realty Group has made two retail acquisitions, buying Deptford Landing, a power center in Deptford, New Jersey, and Exeter Commons, a grocery-anchored center in Reading, in separate transactions that settled at roughly $70 million each. The two retail centers were sold by ShopCore Properties, which is a division of Blackstone Group. They properties add… Read more »
Developer Bart Blatstein has decided to shelve a controversial plan for a Super Wawa that would have fronted the Delaware River along South Columbus Boulevard in Philadelphia and will instead build an expanded retail center without the convenience store. “I’m not going to pursue Wawa and the litigation on Delaware Avenue,” Blatstein said in an interview. His… Read more »
A New York investor has paid $5.34 million for 1617 Walnut St., a two-story building in the center of Philadelphia’s High Street retail corridor. The nearly 7,000-square-foot building was put up for sale in late 2019 by a local family who had it in a trust and listed for $7.5 million. The price that it… Read more »
