Wednesday, July 31, 2013

Shopping center sells for $10.4M to BET

by Natalie Kostelni-Staff Writer, Philadelphia Business Journal
BET Investments bought a 54,006-square-foot shopping center at Welsh Road and Roosevelt Boulevard in Philadelphia for $10.4 million.
The center, built in 1965, is fully occupied and anchored by Retro Fitness. Korman Properties was the seller. 
“It’s a really good location and a prime piece of real estate for the future,” said Michael Markman, president of BET Investments.
The Horsham, Pa., real estate company typically buys grocery anchored retail properties but this center’s location has 90,000 vehicles passing by it each day and also presents a potential redevelopment opportunity.
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