Wednesday, October 10, 2018

Local Investment Firm Sells 129,000-SF Suburban Philadelphia Shopping Center

Context Capital Partners, a local investment firm, sold a 128,544-square-foot shopping center in Warminster, Pennsylvania, to a private investor. Warminster Plaza sold for an undisclosed price.

The 4-Star center at 606 York Road was built in 1979 and renovated in 2004, spanning nearly 13 acres less than 12 miles from Northeast Philadelphia Airport. The property is leased to SMG SportsPlex at Warminster, AAA, Lee’s Hoagie House, YMCA of Buck’s County, Kid’s First Swim Schools, Pearle Vision Center and Grand Buffett.

“Investor demand for infill community and neighborhood shopping centers such as Warminster Plaza remains strong. Retail assets offer competitive risk-adjusted returns in today’s commercial real estate climate, and more capital is entering the space as we continue to see improving retail fundamentals in occupancy levels, rental rates and tenant demand,” said Chris Munley, a managing director at HFF, in a statement.

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