Terms of the lease are undisclosed. Minneapolis-based SuperValu, the giant distributor that supplies Redner's, is acting as guarantor of the lease.
The 177,000-sf strip mall in Phoenixville, PA is owned and managed by Plymouth Meeting, PA-based Kramont Realty Trust. Kramont recently renovated the shopping center, transforming it "from an outdated, enclosed mall into a modern, grocery-anchored, open-air center that is much more appealing to the local residents of this growing community," president and chief executive officer Louis P. Meshon Sr. says in a statement.
The center has 16 stores and is located on 18 acres in Chester County at the intersections of Schuylkill and Hollingsworth Roads. Among the current tenants are a 24,069-sf Staples, PayLess Shoe Source, H&R Block, Hallmark Cards and French Creek Outfitters.
Redner's operates 34 warehouse food markets and 11 Quick Shoppe convenience stores in eastern Pennsylvania and eastern New York and is pursuing an ambitious expansion plan.
Carleton Smith of Lower Gwynedd, PA-based Prime Sites Realty LLC is the exclusive broker for Redner's and was sole broker in this transaction.
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