Institutional Property Advisors Brokers $85.7 Million Grocery-Anchored Power Center Sale
POTTSTOWN, Pa., August 02, 2022--(BUSINESS WIRE)--Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI), announced today the sale of Upland Square, a 400,716-square-foot retail shopping center in Pottstown, Montgomery County, Pennsylvania at a purchase price of $85.7 million. AMC Theatre as well as the freestanding pads were not included in the sale.
"Anchored by a 76,500-square-foot Giant Food Stores, the market share leader in Pennsylvania, and shadow-anchored by a 147,071-square-foot Target, Upland Square is one of the largest and most successful grocery-anchored power centers in the Philadelphia MSA with over 4.1 million visitors in the trailing 12 months," said Brad Nathanson, IPA senior managing director investments.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.