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Retail

Warrington Plaza

Warrington, PA

87,128 SqFt

Built in 1970

Core Plus

Investment Highlights

  • Anchored by Avalon Floor & Tile, a regional specialty home improvement retailer with 17 locations in three states. Avalon has been the anchor since 2003 and has committed until 2035.
  • Shadow-Anchored by Home Depot at 116,340 square feet, providing over 933,000 visits in the trailing 12 months to attract the regional customer. Within 10 miles this Home Depot ranks number one.
  • Weighted Average Remaining Term of 10 Years for all tenants proves durability in cash flow with consistent success and renewals among the existing tenant base.
  • 100% of the existing tenants have paid contractual rents since July 2020 with no rent reductions displaying the resiliency of the property.
  • Recent contractual lease extension by Citizens Bank (S&P rated A-) on the pad site with deposits in excess of $129 million .
  • Warrington, located in Bucks County which is an adjacent county North of Philadelphia, is extremely affluent within an average household income of $132,000 and is vastly expanding taking on an outward migration growth from New Jersey to Philadelphia given its renown schooling and accessibility.
  • New 10 year extension with Rite Aid until 2032 displaying long term commitment to the site.

Exclusively listed by

  • Brad Nathanson

    Senior Director

    Philadelphia, PA

    bnathanson@ipausa.com

    Philadelphia, PA

    License(s): PA: RS278775, NJ: 0674866

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