Friday, June 3, 2022

ATR Corinth Partners has sold West Manchester Town Center in York, PA

ATR Corinth Partners has sold West Manchester Town Center, a shopping center located in the southern Pennsylvania community of York.

The Dallas-based owner, manager and developer sold the 488,037-square-foot shopping center to a Paramount Realty joint venture, according to JLL, which brokered the deal. West Manchester Town Center sold for about $42.5 million, according to York County real estate records.

West Manchester Town Center is anchored by Kohl's, At Home, HomeGoods, Hobby Lobby and Burlington. Formerly operating as an enclosed mall, which opened in 1981, the property was completely redeveloped in 2014 into an open-air shopping center.

The shopping center is located on 94.1 acres at 415 Town Center Drive in an infill location. The center drew more than 4.2 million customer visits over the last year, making it the No. 2 most-visited open-air shopping center within a 15-mile radius.

"ATR Corinth did a phenomenal job executing the redevelopment by curating a dominant super-regional retail center with best-in-class anchor tenants and a complementary lineup emphasizing contemporary retail uses. We are excited to watch the Paramount Realty team continue to add value through future development, expansion of the property’s retail footprint and lease-up potential."

"We have seen renewed demand for best-in-class power centers over the last 24 months, which speaks to the positive macro performance of big box retailers as we exited the pandemic. With an extremely competitive bid process, West Manchester is a perfect example of this ongoing trend."

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