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JLL Arranges $114M Trade of Grocery-Anchored Centers in Philly Metro
JLL Capital Markets closed the $114.25-million sale of and secured $80.5 million in acquisition financing for a five-property grocery-anchored retail portfolio throughout the greater Philadelphia metro area. Paramount Realty, in partnership with Medipower Group, purchased the assets.
A JLL team of Chris Munley, Jim Galbally, Colin Behr and James Graf marketed the portfolio on behalf of the seller, Brandolini Companies. All properties are located within highly populated residential neighborhoods. Locations include:
- Lionville Shopping Center in Lionville (Giant-anchored)
- Marketplace at Westtown in West Chester (Giant-anchored)
- Spring Towne Center in Sinking Spring (Giant- and Lowe’s-anchored)
- Dreshertown Plaza in Dresher (George’s Marketplace-anchored)
- Limerick Crossing in Limerick (ALDI-anchored)
“The Philadelphia MSA continues to remain hyperactive in the retail sector,” Behr said. “With 16 retail asset trades in the first half of 2021, we anticipate the second half of the year to be just as active as fresh capital enters the market.”
Pictured: Marketplace at Westtown.
- ◦Sale/Acquisition
