MEDIPOWER ACQUIRES 5 GROCERY ANCHORED SHOPPING CENTERS IN THE GREATER PHILADELPHIA AREA
Medipower, a full-service commercial real estate company, specializing in retail real estate across the Northeast major markets, announced today the acquisition of a portfolio, 718,108 SF, high performing grocery anchored assets, located within well-established communities across the Philadelphia metro area.
The anchors line-up includes Giant, Aldi and Lowes with approximately 90% occupancy and a tenure +15 years. Strategically located in high barriers to entry strong neighborhoods, the portfolio serves dense communities with an average household income of $126,000.
Chris Munley, Jon Mikula and JIm Cadranell of JLL represented the seller and arranged the debt financing.
Ron Stern, CEO: “We are excited to add five quality well located assets to our portfolio. All the assets include best in class grocery anchor, along e-commerce resistant and service oriented inline tenants. This transaction fits our business model of having top performing shopping centers in a dense infill strong communities.”