Wednesday, March 23, 2016

Drexeline Shopping Center Sold for $30M

Drexeline Shopping Center Corp. sold the Drexeline Shopping Center at 4990-5100 State Rd. in Drexel Hill, PA to MCB Real Estate for $30 million, or about $113 per square foot.

Located at Route 1 in the Delaware County submarket, the 265,825-square-foot community center was built in the 1970s on 18.5 acres. The asset is anchored by ShopRite and is 80 percent occupied at the time of sale.

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