New York-based real estate investment trust Brixmor Property Group sold a 389,450-square-foot, grocery anchored shopping center in Bethlehem, Pennsylvania, to The Klein Group. Bethlehem Square sold for $40.91 million, or about $106 per square foot.
Located at 3926 Linden St., the Class B center was built in 1987. The property spans 48 acres less than 11 miles from DeSales University.
Christopher Munley and Michael Dicosimo at HFF represented the seller, which originally purchased the property as part of a portfolio in June 2011, CoStar data shows.
Headquartered in New York, Brixmor owns and operates a portfolio comprising 475 properties across 36 states, according to its website.
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