PHILADELPHIA—ECHO Realty has purchased a portfolio of three grocery-anchored shopping centers in metropolitan Philadelphia. The centers include GIANT Marketplace at Bensalem, Media Shopping Center, and Lionville Station.
“We began to work with the Shooster family several years ago and are very pleased that we are finally acquiring these centers,” says Drew Gorman, Echo's senior vice president of acquisitions and development. “The centers are well located, time-tested properties that also provide an opportunity for enhanced value.”
GIANT Marketplace at Bensalem is an 88,500 square foot GIANT-anchored center located at the intersection of Street Road and Mechanicsville Road in Bensalem, PA.
Media Shopping Center is a 71,000 Acme-anchored center located at the intersection of East Baltimore Pike and North Providence Road in Media, PA.
The third center, Lionville Station, is a 79,000 square-foot property located along East Uwchlan Avenue in Lionville, PA.
“We are very excited to be able to achieve a greater critical mass of high-quality grocery-anchored shopping centers in the greater Philadelphia market which has been one of our targeted growth areas for many years,” says Thomas Karet, CEO of ECHO Realty.
The acquisition adds nearly 250,000 square feet to ECHO's expanding shopping center portfolio. Last month, ECHO acquired two Harris Teeter-anchored properties in Charlotte, NC. The company also purchased 15 acres in Dunkirk, MD where construction will commence on a 100,000 square foot, Harris Teeter-anchored shopping center set to open in the Spring of 2018.
PHILADELPHIA—ECHO Realty has purchased a portfolio of three grocery-anchored shopping centers in metropolitan Philadelphia. The centers include GIANT Marketplace at Bensalem, Media Shopping Center, and Lionville Station.
“We began to work with the Shooster family several years ago and are very pleased that we are finally acquiring these centers,” says Drew Gorman, Echo's senior vice president of acquisitions and development. “The centers are well located, time-tested properties that also provide an opportunity for enhanced value.”
GIANT Marketplace at Bensalem is an 88,500 square foot GIANT-anchored center located at the intersection of Street Road and Mechanicsville Road in Bensalem, PA.
Media Shopping Center is a 71,000 Acme-anchored center located at the intersection of East Baltimore Pike and North Providence Road in Media, PA.
The third center, Lionville Station, is a 79,000 square-foot property located along East Uwchlan Avenue in Lionville, PA.
“We are very excited to be able to achieve a greater critical mass of high-quality grocery-anchored shopping centers in the greater Philadelphia market which has been one of our targeted growth areas for many years,” says Thomas Karet, CEO of ECHO Realty.
The acquisition adds nearly 250,000 square feet to ECHO's expanding shopping center portfolio. Last month, ECHO acquired two Harris Teeter-anchored properties in Charlotte, NC. The company also purchased 15 acres in Dunkirk, MD where construction will commence on a 100,000 square foot, Harris Teeter-anchored shopping center set to open in the Spring of 2018.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
