Temple University has purchased a shopping center on North Broad Street near its health system campus, with potential plans to add medical offices. The university paid $8.2 million to Overbrook Investment Properties LLC for the 45,290-square-foot retail property, according to property records. The site is fully occupied, except for an 11,447-square-foot former Rite Aid. Located… Read more »
A long-vacant 25.5-acre site in Delaware County, approved for 165,000 square feet of retail space, is changing hands. Moorestown, New Jersey-based Retail Sites is set to acquire the parcel at Route 202 and Ridge Road near Glen Mills and Chadds Ford from Newport, Delaware-based developer Pettinaro Co. Retail Sites plans to invest between $50 million… Read more »
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,… Read more »
A Boothwyn Shopping Center Anchored by Walmart and Acme Sells for $26 Million. Larkin’s Corner, a prominent shopping center in Boothwyn featuring anchor stores like Walmart and Acme, has been successfully sold for $26 million, as reported by an industry insider. U & Me Enterprises, a private investor hailing from Long Island, New York, completed… Read more »
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… Read more »
The century-old industrial plant that sits across the street from John’s Roast Pork in South Philadelphia will be demolished to add another shopping center to an area filled with retail destinations. The 6.2-acre space at 16 Snyder Ave. is owned by Inolex, which manufacturers ingredients for cosmetic products, but the company transitioned its operations to… Read more »
