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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



Jan 17, 2020, France:
The retail space was created in collaboration with Galeries Lafayette department store.
Jan 17, 2020, USA:
Gap has changed its mind about making Old Navy a separate company.
Jan 16, 2020, Austria:
The company stated that buyers without cars are gradually becoming a new mega-trend.
Jan 14, 2020, Italy:
The flagship store "Apple Via del Corso" will open in a historic building renovated by Foster + Partners.
Jan 13, 2020, USA:
Target's range of sports and active lifestyle clothing is called All in Motion.
Jan 10, 2020, United Kingdom:
The company has announced plans to enter the UK retail property market with the purchase of one of the shopping and entertainment centers in London.
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