Kennett Square Shopping Center Sells for $2M

PHILADELPHIA-Locally based B&D Properties sells New Garden Plaza II, a 19,317-sf shopping center on West Cypress Street in Kennett Square, PA, for $105 per sf. It was built in 2001, contains 12 tenant spaces, and is 92% leased.

By Marita Thomas | December 17, 2002 at 01:01 AM

The center was built in 2001. It has 12 tenant spaces, 11 of which are leased, which represents a 92% occupancy rate. Chester County is one of the fastest-growing Philadelphia suburbs.

The Philadelphia office of Encino, CA-based Marcus & Millichap Real Estate Investment Brokerage Co. was the listing broker and also secured the buyer. It is one of 34 Marcus & Millichap offices nationwide and is headed by Jeffrey Algatt.

NOT FOR REPRINT

© 2025 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.

1 Cargo Slowdown Threatens Warehouse Demand and Retail Inventories

2 Maturing Loans Push Washington Prime Group to Accelerate Mall Sell-Off

3 Washington Set to Become Third State With Statewide Rent Control

4 Job Growth No Longer Guarantees Apartment Demand in Most U.S. Cities

5 Multifamily Pipeline Logs Unexpected Bump

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information

Retail Shows Resilience But Faces Mounting Risks in 2025

By Erik Sherman | April 30, 2025

After a long stretch of doing unexpectedly well, the pressure is increasing.

Retail Shows Resilience But Faces Mounting Risks in 2025

Starbucks Tests the Future of Cafe Building With 3D-Printed Store

By Kristen Smithberg | April 30, 2025

The 1,400 square foot, concrete structure could foretell a new building trend.

Nominate Now for Industrial Influencers

By Ingrid Tunberg | April 30, 2025

GlobeSt. will honor the professionals, teams and firms that continually drive the sector’s performance as the 2025 Influencers in Industrial. Nominate a candidate before the May 14th deadline!

Nominate Now for Industrial Influencers

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio link

Guide

Sponsored by Assurant

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio

Picking the right renters insurance can be a headache. This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk.

Browse More Resources ›

The Return to Office: Recovery Still Underway link

Guide

Sponsored by Placer.ai

The Return to Office: Recovery Still Underway

Are you noticing unexpected shifts in office occupancy and commuter behavior? This report reveals how evolving work patterns are challenging CRE brokers and offers crucial, data-backed insights for 2025. Discover a detailed analysis of office visit fluctuations, an in-depth look at midweek work trends, accurate forecasts for market recovery, real-world examples to inform strategic decisions, and actionable metrics to guide client advising. Download your copy today!

Browse More Resources ›

The State of Commercial Property Management Technology in 2025 link

Report

Sponsored by Building Engines

The State of Commercial Property Management Technology in 2025

Commercial property teams are navigating changing times where technology plays a crucial role in operations, tenant satisfaction, and sustainability. This report, based on insights from 370 industry professionals, reveals the biggest priorities, challenges, and opportunities for CRE technology adoption in 2025. Don’t miss it.

Browse More Resources ›