A 33,000-square-foot shopping center near downtown Phoenixville that is fully occupied and shadow-anchored by Acme, sold in November for nearly $7.4 million, writes Erin McCarthy for The Philadelphia Inquirer.
The complex changed hands from a Malvern-based private investor to one based in Glen Mills, with both entities structured as limited liability companies in the deal.
The corporately owned Acme store, which is attached to the shopping center and helps drive traffic, was not included in the sale.
The other tenants in the complex include Benchmark Federal Credit Union, Habitat for Humanity ReStore, Fresenius Kidney Care, Labcorp, NovaCare Rehabilitation, State Farm, as well as a martial arts gym, a dry cleaner, and multiple restaurants.
“This closing highlights the strength of essential-service tenants, 100 percent occupancy, and strong tenant performance,” Scott Woodard, senior director of investments for Marcus & Millichap, the firm that represented the seller. “Phoenixville’s expected population growth and proximity to major anchors, such as Acme, made this center a standout asset with long-term stability.”
The shopping center which was built in 2007, is set on 3.7 acres near the corner of Nutt Road and Starr Street.
Read more about the sale of the fully occupied shopping center in Phoenixville in The Philadelphia Inquirer.
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