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 in Pottstown.

The center is fully occupied with 35 tenants including Giant, TJ Maxx, Ross, Burlington, Ulta and Ashley Furniture as anchors. Paramount Realty is the seller and the purchase expanded United Hampshire’s Philadelphia footprint. 

Upland Square had some other nuances. Cedar Shopping Centers Inc. was involved in a partnership that developed Upland Square, a $106.4 million, 686,000-square-foot power center. It opened in 2009 with Giant, TJ Maxx and AMC Theatres. When Paramount put the center up for sale at the end of last year, it deliberately didn’t include the AMC and some of the other out parcels such as Starbucks, Aspen Dental and Chili’s, cutting the size of what was for sale to 400,674 square feet. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.