Abrams Realty & Development (ARD) purchased the Pennsbury Plaza at 223-229 Plaza Blvd. in Morrisville, PA from Pennsbury Associates III for $5.1 million, or about $71 per square foot.
The 72,000-square-foot shopping plaza is currently being renovated. Sears, the previous anchor tenant, recently vacated the property. The new owners will have Planet Fitness fill 22,000 square feet there, and expects to be fully operational by the fourth quarter of 2014.
www.omegare.com
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