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Bucks County Centers Trade for $22M

WARMINSTER, PA-In separate transactions, Warminster Plaza here sells for $12.4 million, and Country Square in Quakertown trades for $9.5 million.

By Marita Thomas | Updated on October 16, 2007

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.

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