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Levin Properties, Partner Buy $22M Center

PHILADELPHIA-Levin Management Corp. arranged the acquisition of Morrell Plaza for the firm that shares its name and is part owner of the leasing and management outfit.

By Ian Ritter | Updated on October 15, 2009

PHILADELPHIA-Levin Management Corp. arranged a $22 million acquisition of a shopping center in the northeast part of town here for its part owner Levin Properties and a family owned investment group. The 103,244-square-foot Morrell Plaza was purchased from Midland Development Group, of Jacksonville, FL.

Though favorable deals are hard to come by, “we’re certainly looking for more,” Matthew Harding, president of third-party services firm Levin Management. “We’re doing it on a case-by-case basis. What’s out there is limited and quite varied.”

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