SOUTHAMPTON, PA-A joint venture between Katz Properties and Paragon Realty Group purchased a 148,000-square-foot grocery-anchored center here for just under $20.3 million. The two firms bought Southampton Shopping Center from an investor not named in a press release.
The asset is anchored by Giant supermarket. Other tenants in the 89%-filled asset include Citizens Bank, GameStop and Tuesday morning. The buyers plan to renovate the center, starting with a new facade.
Katz, based in New York City, is looking to increase its retail holding in Pennsylvania. The company recently acquired grocery-anchored centers in Connecticut, Maryland and upstate New York.
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