PA-Based Franklin Marketplace Trades Hands for $26M
PAG Investments acquired the 223,434-square-foot Franklin Marketplace from Benbrooke Realty Investment Co. The North Jersey buyer paid $25.8 million for the Philadelphia, PA property, which is 88.6% occupied. Chris Munley, Jose Cruz and Michael DiCosimo of HFF brokered the transaction.
The retail center is situated on 18.4 acres at 101-105 Franklin Mills Blvd. in northeast Philadelphia. Tenants include Kaplan, Big Lots, Dollar Tree, Retro Fitness, Harbor Freight Tools and Citizens Bank.
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