Trending...
- New Home of the Month: Spacious Luxury Meets Modern Design in The Bristol at Heritage at Manalapan
- Calvetta Phair, CEO America's Workforce Solution, LLC Assessed "Awardable" for Department of War work in the CDAO's Tradewinds Solutions Marketplace
- Thou Shalt not Commit Adultery Lifetime Movie Discussion
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
- Cabinetworks Group announces recipient of 2025 Plant of the Year
- Honesdale Painters Launch Season With Act of Community Kindness
- Tuckwell Machinery Launches New Range of Woodworking Machinery
- A Brave Little Hero with Four Paws
- Pittsburgh-Area Author Erica L. Day Releases HER, a Christian Second-Chance Romance and Its Own Comp
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
- Revenue Optics Expands Its Private Equity Practice as Sponsors Move Inside Sales to the Center of Distribution Value Creation
- Ecuador Freedom Launches First Scheduled Motorcycle Tour of Northern Peru's Lost Kingdoms
- Lineus Medical Completes Financial Restructuring with KMF Investments- Launching a New Era for SafeBreak
- Neuro Recovery Institute Showcases Emerging Immersive Neuro-Rehabilitation Technology at Clinical Innovation Open House
- Community, Conservation & Waterwise Inspiration Bloom on June 6
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
- Christian Apocalyptic Thriller Explores Biblical Prophecy, Global Technology, & the Rise of the Ant
- Turnstone Creative Expands Leadership Team with Addition of Marketing Manager
- The Hidden Price Of Lost Property In UK Schools
- Milton Collier, CEO & President of Freight Broker 911, Eliminates the #1 Barrier to Entry in Logistics: Announces 100% Free Freight Broker Training
- FDA-Cleared AI Neuropsychiatry Platform, Million-Dose Ketamine Manufacturing and Presidential Psychedelic Initiative Drive Growing Momentum for NRXP
- AI Velocity Trading Launches Institutional-Grade Algorithmic Engine for Retail Investors
- Calvetta Phair, CEO America's Workforce Solution, LLC Assessed "Awardable" for Department of War work in the CDAO's Tradewinds Solutions Marketplace
- Speaker and Certified Coach Syrena N. Williams Debuts Powerful New Book on Healing, Identity, and Wholeness
- Lord of the Rings, Doctor Who' Q&As, Local Sessions Highlight FAN EXPO Philadelphia Programming
- Kryptokasinot.io Raises Concerns Over Proposed Cryptocurrency Restrictions in Finland's Gambling Reform
- New Home of the Month: Spacious Luxury Meets Modern Design in The Bristol at Heritage at Manalapan
- The Calida Group Announces Sale of Ely at Fort Apache for $57.5 Million
- Tina Hasselbusch, co-founder and CEO of Turnstone Creative, Receives Circle of Excellence from Lehigh Valley Business
- Summer Festivals in Gunma Prefecture: Song, Dance, and Vibrant Color – Get There Via Tobu Railway!
- Jetperch Introduces Joulescope JS320 Precision Energy Analyzer for Low-Power Embedded System Development
- AI-Powered Trading Bots Are Transforming Forex, Gold, and Digital Markets as DefiHash Expands Intelligent Quantitative Infrastructure
- Early Bird Registration Open for FLYING HY, the Top Hydrogen and Battery Electric Aviation Event
- Eichelberger Performing Arts Center Welcomes New Executive Director
- Century Fasteners Corp. Hires Tony Marano as Director of Human Resources
- Accelerating Toward Commercialization as FDA Momentum, AI Neurotherapy & Manufacturing Expansion Drive Multi-Catalyst Growth Story; N A S D A Q: NRXP