A major Montgomeryville shopping center has changed hands as investors continue targeting well-anchored retail properties. Echo Realty and TPG acquired the 269,000-square-foot Water Tower Square from Goldenberg Group. The final sale price was not disclosed. The property was previously expected to sell for approximately $55 million after reaching the market in May. Water Tower Square… Read more »
A portion of the Plymouth Meeting Mall fronting Germantown Pike—formerly home to Macy’s—has been sold for $14.3 million to 500 Germantown Partners LLC & ET A, an entity tied to Goodman Properties of Jenkintown. The transaction closed on September 2nd. While PREIT remains the main landowner of the overall mall property, this section was privately… Read more »
A Chester County shopping center designed around Giant was sold for approximately $27 million by an affiliate of Lancaster-based High Real Estate Group, according to industry sources. The firm purchased the 154,219-square-foot Suburbia Shopping Center in Pottstown from East Norriton-based Gambone Management Co. The center is 85% leased and located at 80 Glocker Way, just… Read more »
