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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, USA:
Many millennials prefer to rent things rather than purchase. In the field of outdoor gear, such consumers are already more than a third.
Apr 18, 2019, United Kingdom:
An in-store cashback app that will provide retailers to force footfall by rewarding customers for spending in stores.
Apr 15, 2019, France:
The brand relies on pop-up stores and new men's clothing lines.
Apr 15, 2019, United Kingdom:
Iconic athleisure brand, Champion, is to open its first UK outlet store at Wembley Park’s London Designer Outlet.
Apr 11, 2019, Spain:
Winners of the most prestigious European retail property award were announced in Barcelona.
Apr 11, 2019, Slovenia:
Slovenia’s most modern shopping center, ALEJA, which is being built in the Šiška district of Ljubljana, will open next year.
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