Empire Realty Investments has sold Bensalem Shopping Center, a 109,057-square-foot grocery-anchored retail center with a 6.41 percent cap rate in Bensalem, Pa.
JLL worked on behalf of the seller.
Located at the intersection of Street Road, which sees more than 32,600 vehicles per day, and Hulmeville Road, Bensalem Shopping Center enjoys a strategic position with excellent visibility and accessibility. Situated along the main retail corridor in Bensalem, the center is 15 miles north of Center City Philadelphia and benefits from its position in a densely populated, affluent suburban Philadelphia submarket.
The center, originally built in 1972, sits on an 8.8-acre lot and is currently 100 percent leased. It is anchored by Patel Brothers, the largest Indian grocery chain in the United States. Other notable tenants include Dollar General, Advance Auto Parts and Unlimited PCS.
