 |
| Suresh Kagithapu |
JLL marketed the property on behalf of the seller, Brixmor Property Group. LS Property Investment purchased the asset.
Bensalem Square is fully occupied by a roster of mostly e-commerce-resistant regional restaurant, service and medical tenants anchored by a high-performing Redner’s Markets grocery store.
 |
| Harish Koya |
Bensalem Square is positioned within the highly populated Bucks County market, which boasts a population of nearly 18,500 residents within a one-mile radius and more than 109,000 within a three-mile radius of the property.
 |
| Redner's at Bensalem Square Shopping Center |
“Bensalem Square is an excellent addition to our investment portfolio that also includes the Sinking Spring Shopping Center near Reading, Cherry Square Shopping Center near Allentown and the Stowe Crossing Stripmall near Pottstown.”
 |
| Srinivas Adda |
The JLL Capital Markets team representing the seller was led by Managing Director Chris Munley, Managing Director James Galbally and Senior Vice President Colin Behr.
“Infill, grocery-anchored retail continues to be in-demand within the asset class,” Munley said. “We have seen our offer counts increase across the board for all retail product in 2019, with a significant spike within this category specifically.
"The positive net increase in investor interest is indicative of where current pricing metrics are coming in.”
 |
| Siva Pola |
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
 |
| Nagasekhar Anumalasetty |
Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
About Brixmor Property Group
Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers.
Its 422 retail centers comprise approximately 73 million square feet of prime retail space in established trade areas. The company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers.
 |
| Chris Munley |
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.
Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions.
In doing so, we will build a better tomorrow for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019.
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions.
In doing so, we will build a better tomorrow for our clients, our people and our communities.
 |
| James Galbally |
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
Contact:
Kimberly Steele, JLL Digital Content/PR Specialist
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
No comments:
Post a Comment