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CBRE Global Investors Fund Acquires Retail Asset in Pennsylvania Area

KING OF PRUSSIA, PA—A fund advised by CBRE Global Investors has acquired a single-tenant grocery asset in King of Prussia, near Philadelphia. Located at 1 Village Drive in King of Prussia, Penn., the trophy-quality grocery property has a 25-year ground lease with Wegmans for a 147,456 sq. ft. store. Constructed in 2012, the store is a prototypical design for the dominant grocer, which has 83 stores across the Northeast and is one of the largest private companies in the United States.

By Steve Lubetkin | Updated on September 02, 2014

KING OF PRUSSIA, PA—A fund advised by CBRE Global Investors has acquired a single-tenant grocery asset in King of Prussia, near Philadelphia.

Located at 1 Village Drive in King of Prussia, Penn., the trophy-quality grocery property has a 25-year ground lease with Wegmans for a 147,456 sq. ft. store. Constructed in 2012, the store is a prototypical design for the dominant grocer, which has 83 stores across the Northeast and is one of the largest private companies in the United States.

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