Trending...
- Melospeech Inc. Accepts Nomination for HealthTech Startup of the Year
- SIMM Capital Fund Surpasses $25M Raised and $100M+ in Real Estate Assets
- KIKO NATION TOKEN (Official Release)
POTTSTOWN, Pa.--(BUSINESS WIRE)--Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI), announced today the sale of Upland Square, a 400,716-square-foot retail shopping center in Pottstown, Montgomery County, Pennsylvania at a purchase price of $85.7 million. AMC Theatre as well as the freestanding pads were not included in the sale.
"Anchored by a 76,500-square-foot Giant Food Stores, the market share leader in Pennsylvania, and shadow-anchored by a 147,071-square-foot Target, Upland Square is one of the largest and most successful grocery-anchored power centers in the Philadelphia MSA with over 4.1 million visitors in the trailing 12 months," said Brad Nathanson, IPA senior managing director investments. "More than 60% of the center is tenanted by national industry leaders such as Burlington, LA Fitness, Five Below, Ross, Bed Bath & Beyond, Staples, TJ Maxx, Petco, and Ulta Beauty." Nathanson represented the seller, Lakewood, New Jersey-based Paramount Realty Services Inc. and procured the buyer, United Hampshire US REIT. MCB Real Estate was retained for property management.
More on The PennZone
Built in 2009 and expanded in 2019, Upland Square is located on Route 100/Pottstown Highway, two miles north of Route 422, a major east-west corridor between two regional employment hubs, King of Prussia and Reading. The retail plaza draws from a population of approximately 200,000 people with an average annual household income over $105,000 within a 10-mile radius. The property experienced tremendous leasing velocity in recent years, bringing in 11 new tenants totaling over 134,000 square feet, displaying superior positioning as a regional retail magnet. Sean Beuche, license no. RM424190 is Marcus & Millichap's broker of record in Pennsylvania.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE:MMI), a leading commercial real estate services firm in North America. IPA's combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com
More on The PennZone
About Marcus & Millichap (NYSE:MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
Contacts
Gina Relva, VP of Public Relations
Gina.Relva@marcusmillichap.com
"Anchored by a 76,500-square-foot Giant Food Stores, the market share leader in Pennsylvania, and shadow-anchored by a 147,071-square-foot Target, Upland Square is one of the largest and most successful grocery-anchored power centers in the Philadelphia MSA with over 4.1 million visitors in the trailing 12 months," said Brad Nathanson, IPA senior managing director investments. "More than 60% of the center is tenanted by national industry leaders such as Burlington, LA Fitness, Five Below, Ross, Bed Bath & Beyond, Staples, TJ Maxx, Petco, and Ulta Beauty." Nathanson represented the seller, Lakewood, New Jersey-based Paramount Realty Services Inc. and procured the buyer, United Hampshire US REIT. MCB Real Estate was retained for property management.
More on The PennZone
- BPM Systems Launches New Automated Packaging & Labeling Solution for Manufacturers Across The US
- EnergyStrat Launches Global LNG Risk Outlook 2025–2030
- Strong Revenue Gains, Accelerating Growth, Strategic Hospital Expansion & Uplisting Advancements: Cardiff Lexington Corporation (Stock Symbol: CDIX)
- Holiday Decorations Most Likely to Cause Injuries
- UK Financial Ltd Confirms Official Corporate Structure of the Maya Preferred Project and Its Dual-Class Token System
Built in 2009 and expanded in 2019, Upland Square is located on Route 100/Pottstown Highway, two miles north of Route 422, a major east-west corridor between two regional employment hubs, King of Prussia and Reading. The retail plaza draws from a population of approximately 200,000 people with an average annual household income over $105,000 within a 10-mile radius. The property experienced tremendous leasing velocity in recent years, bringing in 11 new tenants totaling over 134,000 square feet, displaying superior positioning as a regional retail magnet. Sean Beuche, license no. RM424190 is Marcus & Millichap's broker of record in Pennsylvania.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE:MMI), a leading commercial real estate services firm in North America. IPA's combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com
More on The PennZone
- Zac Arbitman Elected As Co-Chair of Philadelphia Bar Association Federal Courts Committee
- CCHR Florida Joins Global Call to Ban Electroshock Treatment, Citing New Evidence of Widespread Patient Harm
- BoxingRx Announces Full Gym Renovation Ahead of New Ownership's One-Year Anniversary
- UK Financial Ltd Announces It's Official Corporate Headquarters In The United Kingdom
- Rigani Press Announces Breakthrough Book for Health IT and Medical Leaders to Forge the Road to Responsible AI
About Marcus & Millichap (NYSE:MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
Contacts
Gina Relva, VP of Public Relations
Gina.Relva@marcusmillichap.com
Filed Under: Business
0 Comments
Latest on The PennZone
- Tiger-Rock Martial Arts Appoints Jami Bond as Vice President of Growth
- Super League (N A S D A Q: SLE) Enters Breakout Phase: New Partnerships, Zero Debt & $20 Million Growth Capital Position Company for 2026 Acceleration
- Finland's Gambling Reform Promises "Single-Click" Block for All Licensed Sites
- Private Keys Are a Single Point of Failure: Security Advisor Gideon Cohen Warns MPC Technology Is Now the Only Defense for Institutional Custody
- Compliance Is the Ticket to Entry: Legal Advisor Gabriela Moraes Analyzes RWA Securitization Paths Under Brazil's New Legislation
- Coalition and CCHR Call on FDA to Review Electroshock Device and Consider a Ban
- Spark Announces 2025 Design Award Winners
- NEW Luxury Single-Family Homes Coming Soon to Manalapan - Pre-Qualify Today for Priority Appointments
- Together We Dance Shines at Newtown Holiday Parade
- Dominic Pace Returns to the NCIS Franchise With Guest Role on NCIS: Origins
- Anderson Periodontal Wellness Attends 5th Joint Congress for Ceramic Implantology
- UK Financial Ltd Completes Full Ecosystem Conversion With Three New ERC-3643 SEC-Ready Tokens As MCAT Deadline Closes Tonight
- AI Real Estate Company Quietly Building a National Powerhouse: reAlpha Tech Corp. (N A S D A Q: AIRE)
- Inkdnylon Expands National Uniform Embroidery Services
- Appliance EMT Expands Appliance Repair Services to Portland, OR and Vancouver, WA
- Next Week: The World's Best Young Pianists Arrive in Music City for the 2025 Nashville International Chopin Piano Competition
- Revenue Optics Builds Out Its Dedicated Sales Recruiting Firm with Strategic Addition of Christine Schafer
- Hydrofast Elevates the Holiday Season: The C100 Countertop RO System Merges Smart Tech with Wellness for the Perfect Christmas Gift
- Melospeech Inc. Accepts Nomination for HealthTech Startup of the Year
- Flower City Tattoo Convention Draws Record Attendance in Rochester, NY