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Katz, Paragon Pay $20M for Suburban Philly Center

SOUTHAMPTON, PA-The Giant-supermarket-anchored center is 89% leased, and the buyers plan to renovate the asset.

By Ian Ritter | Updated on July 28, 2010

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.

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