JLL Capital Markets closes sale of West Manchester Town Center in York, PA to a Paramount Realty JV

 

 West Manchester Town Center, York, PA

PHILADELPHIA, PA – JLL Capital Markets announced today that it has closed the sale of West Manchester Town Center, a 488,037-square-foot, dominant, destination power center located in the southern Pennsylvania community of York. The price was undisclosed.

Anthony T. (Tony) Ruggeri

JLL marketed the property on behalf of the seller. ATR Corinth Partners. A Paramount Realty JV acquired the asset.  

 West Manchester Town Center is anchored by Kohl’s, At Home, HomeGoods, Hobby Lobby, Burlington and a best-in-class multi-national discount department store as a shadow anchor.

Formerly operating as an enclosed mall, which opened in 1981, the property was completely redeveloped in 2014 to create the burgeoning super-regional retail destination it is today.

Chris Munley 

Positioned on 94.1 acres at 415 Town Center Dr., West Manchester Town Center is positioned on an irreplaceable location within the greater York Market.

. 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.

 “We at ATR Corinth are excited about the redevelopment of West Manchester Town Center into a dynamic retail center that will serve the community for decades,” said ATR Corinth Partner Tony Ruggeri.

“As with any project of this size, we would like to thank the officials at West Manchester Township, the Redevelopment Authority of York County and the residents of the township and county for their support in this transformation.”

James Galbally 

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Chris Munley and James Galbally and Senior Director Colin Behr.

 “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,” Munley said. 

“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.” 

Colin Behr

“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,” Behr added. 

“With an extremely competitive bid process, West Manchester is a perfect example of this ongoing trend.”

 “We continue to see strong demand for retail assets throughout Central Pennsylvania due to the strong market fundamentals and attractive risk adjusted returns,” Galbally said.

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