The center, which has 323,000 square feet of retail and 37,000 square feet of offices and is off the Main Line railroad, is anchored by Macy's. Other tenants include Apple, Trader Joe's and Urban Outfitters.
Last year in the area, Cushman & Wakefield Sonnenblick Goldman arranged $50 million in debt financing for the Hotel Palomar, a 230-room development being built by Kimpton Hotels & Restaurants. It will convert from offices in the Architect's Building, in Center City Philadelphia.
New Hyde Park, NY-based Kimco has about 15 centers in the Philadelphia area. The REIT owns about 1,500 centers, mainly in North America, as well as South America.
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