Brandolini Cos. has sold a five-property grocery-anchored retail portfolio throughout the greater Philadelphia metro area for $114.25 million. Paramount Realty, in partnership with Medipower Group, purchased the assets.
The portfolio garnered significant interest from the investment world, particularly because each asset was anchored by high-performing grocers and a home improvement tenant (Giant, George’s Market, ALDI and Lowe’s), with increasing or stable historical sales. Other major highlights to the portfolio were long remaining lease terms of the anchor tenants, as well as long-tenured small shop tenants with proven history of operations.
All properties are located within highly populated residential neighborhoods and engrained within the communities as destination real estate providing a combination of daily needs and ecommerce resistant businesses. Locations include:
Lionville Shopping Center in Lionville, Pa. (Giant anchored)
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