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| Bakers Centre, 2800 Fox Street, Philadelphia, PA |
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| Chris Munley |
PHILADELPHIA, PA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $52.4 million
sale of Bakers Centre, a 236,719-square-foot, grocery-anchored shopping center
in Philadelphia, Pennsylvania.
HFF marketed the property
on behalf of the seller, Metro Development Company, Carlino Commercial
Development and US Realty Associates, Inc.
The multi-building
property was developed between 2011 and 2015 and is anchored by ShopRite, Ross
Dress for Less and Planet Fitness.
Situated on 27.4 acres at 2800 Fox Street,
Bakers Centre has become the go-to retail destination for the local community of
East Falls/Hunting Park. The center is surrounded by a consumer base of more
than 400,000 residents within a three-mile radius.
The HFF team representing
the seller was led by managing director Chris
Munley, associate director Michael
DiCosimo and senior managing director Jose
Cruz. Gregory Bianchi, vice president with US Realty Associates, Inc.
assisted with the acquisition as well.
“The city of Philadelphia
has a limited supply of grocery-anchored shopping centers of this size and
quality, which made Bakers Centre a rare opportunity for investors,” Munley
said. “Compounding the scarcity of the opportunity with a premium anchor in
ShopRite, Philadelphia’s No. 1 grocer by market share, and a location poised
for future growth, the asset received wide institutional interest.”
For a complete copy of the company’s
news release, please contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza,
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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