Country Line Plaza, Souderton, PA
SOUDERTON, PA—New York City-based Slate Property Group has sold the nearly 75,000-square-foot Country Line Plaza in the Philadelphia suburb of Souderton.
JLL marketed and brokered the transaction for the property that is anchored by Big Lots and a new The Edge Fitness Club. The retail center was acquired by an unnamed private investor. No financial details of the transaction were disclosed.
The 90.3% leased center is also home to Integrated Medical Care, Pho Palace, Akira Sushi and DT Nails & Spa. Situated on 7.67 acres at 15501 Bustleton Ave., the property is visible to approximately 40,000 vehicles a day from frontage along Bustleton Avenue and County Line Road.
The JLL Capital Markets team representing Slate Property Group was led by managing directors Chris Munley and Jim Galbally and SVP Colin Behr.
The deal for the property shows that demand remains high for infill, high barrier-to-entry retail real estate within the Philadelphia Metro, JLL's Munley says.
County Line Plaza is 20 miles from Center City Philadelphia within an infill area that is being revitalized by the Far Northeast District plan. More than 94,700 residents earning an average annual household income of $88,839 live within a three-mile radius of the property.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
