11/28/2007

Philadelphia shopping center fetches $12.4 million

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Philadelphia, Pa.-based Walnut Street Capital has acquired the Warminster Plaza in Warminster, Pa., for $12.4 million from Trinity Capital Advisors.

Brad Nathanson of Marcus & Millichap represented both parties in the transaction.

Built in 1979, the retail center is situated on 12.5 acres and was approximately 40 percent occupied at the time of sale. Located at 654 York Rd., it contains 120,388 square feet and was sold at a 4.8 percent cap rate. Currently, the property is anchored by Petco and Office Depot. Walnut StrPhiladelphia, Pa.-based Walnut Street Capital has acquired the Warminster Plaza in Warminster, Pa., for $12.4 million from Trinity Capital Advisors.

Warminster, a town with a population of 31,383, is located roughly 28 miles north of Philadelphia.

Address: 654 York Road, Warminster, Pa.

Size: 120,388 square feet

Built: 1979

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Filed Under: Retail

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