By Paul Schwedelson – Reporter, Philadelphia Business Journal
A joint venture has bought two open-air retail shopping centers in Newtown and Bensalem for a combined $28.9 million.
New York-based ShopOne Centers REIT Inc., London-based Pantheon and a global institutional investor bought Goodnoe’s Corner in Newtown for $15.38 million and Village Center in Bensalem for $13.55 million. The buyers announced the purchase in March and the price was recently revealed in property records.
The two shopping centers were previously owned by Palladino Development Group.
Goodnoe’s Corner, at 290 N. Sycamore St. in Newtown, is a fully leased 34,660-square-foot shopping center. Tenants include Firstrust Bank, AT&T Store, Apple Cleaners and Jules Thin Crust. It’s on the southwest corner of North Sycamore Street and Durham Road.
Village Center, at 2363 Pasqualone Blvd. in Bensalem, is anchored by an Acme grocery store and spans 87,705 square feet. Wells Fargo, Neshaminy Beverage and Children’s Dental Health of Bensalem are among the other tenants in the shopping center.
Full story: http://tiny.cc/ot3g001
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