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.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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