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Philadelphia retail center for sale



Concordville Town Centre, a retail property is based in Glen Mills, Pa. 
The mall is up for sale by the Brandolini Cos. the Berwyn, Pa. company and its adviser, CBRE Group, are accepting offers in the best-and-final-stage. The property has attracted bids in excess of $100m which is about $252/sq ft for this 397188 sq ft property. The property, developed during 2009, is placed on about 69 acres at 101 Byers Drive. Its estimated net operating income for the next year is $5.8m.The property holds a 99.3% leasing rate, with 28 tenants. 

Home Depot, an anchor, occupies 132511ftІ, Marshalls Home Goods 59795ftІ, Acme Markets 54444ftІ, Staples 20388ftІ and PetSmart 20087ftІ. Its shadow anchor, Target, occupies 127439 ftІ which is not included in the sale. Other tenants include Wells Fargo Bank, Santander Bank, Outback Steakhouse and Bertucci’s. The property is based at the junction of State Highway 322 and US Route 1 in a prime retail corridor. It is located in an affluent area, with average household earnings in excess of $120000, and an estimated population growth of 3.4% over the next five years.Brandolini was founded in 1936 and operates and owns 2.8 million ftІ of commercial real estate.


More about shopping malls in the USA



TODAY, Australia:
The latest of Melbourne’s big suburban shopping centers unveiled its major overhaul.
YESTERDAY, United Kingdom:
The store in St David’s shopping centre has a new look and dedicated Sports entrance.
DAY BEFORE YESTERDAY, India:
The retail sector has been boosted by an upward trend in mall space leasing that was up by 55% in 2017.
Oct 17, 2017, Switzerland:
The official opening of the Mall of Switzerland scheduled for November 8, 2017.
Oct 16, 2017, USA:
Simon is launching scalable, turnkey retail platform The Edit at Roosevelt Field Mall on Long Island.
Oct 13, 2017, USA:
Luxury handbag and accessories brand Coach has announced its rebranding as Tapestry.
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