WARMINSTER, PA-In two unrelated transactions, the 130,000-sf Warminster Plaza has been acquired for $12.4 million and the 80,000-sf Country Square Shopping Center in nearby Quakertown commanded $9.5 million. Rent rates at both properties are currently below market, and both centers provide room for expansion.

East Brunswick, NJ-based US Real Estate Acquisitions LLC reached above the list price to beat out more than 15 offers for Country Square, according to Brad Nathanson, a senior associate in the Philadelphia office of Marcus & Millichap. A majority of the offers came from buyers in New York, New Jersey and Maryland. Nathanson and Jordan Muchnick of the same office represented the seller, Bryn Mawr-based Saul Associates. Brent Waterman of Marcus &Millichap's multihousing group represented the buyer.

Country Square is located at 20 S. West End Blvd. in Quakertown. It was built in 1974 and completely renovated in 2005-2006. It is 95% leased, and key tenants are Goodwill, Sears and Swan Pantry Grocery. “The rents are between $4 per sf and $5 per sf under market,” Nathanson says, adding that the market rate is between $20 per sf and $25 per sf. The new owner plans an additional strip or pad site in front of the 14-acre parcel.