Marcus & Millichap brokered the sale of Goodnoe’s Corner, a 34,660-square-foot town center in Newton, Pennsylvania, and Village Center, an 87,705-square-foot grocery-anchored shopping center in Bensalem, Pennsylvania.
“Goodnoe’s Corner and Village Center are high-quality retail investments with long-term stability and strong tenant mixes,” said Scott Woodard, first vice president investments in Marcus & Millichap’s Philadelphia office. “The sale highlights the strength of continued demand for well-located retail assets in affluent, high-traffic markets.” Woodard and Derrick Dougherty of Marcus & Millichap represented the seller and procured the buyer, an affiliate of a private real estate investment trust headquartered in New York.
Built in 2008 on four acres, Goodnoe’s Corner is within one mile of Pennsylvania Route 413 and the Newtown Bypass Transportation Center. Constructed in 1976 and renovated in 1999, Village Center is near Interstate 276 and visible from Bristol Road and Hulmeville Road. Tenants ACME Markets and Wells Fargo have been at the center for 46 and 47 years, respectively.
The post Marcus & Millichap Closes Two-Property Retail Center Sale in PA appeared first on Connect CRE.
