Supremo Food Markets, a dozen-unit regional chain, is thesix-year-old property's anchor tenant. The tenant line-up includesnine other retailers, and the center has one vacancy, a 7,000-sfblock formerly occupied by Dollar Prime. Pennington Avenue Shoppingis situated on a former brownfields site in this city's West Wardredevelopment area. The center is also surrounded by several phasesof residential development, including a 110-unit active adultcomplex unveiled recently by Ted Davis, who heads CommunityConcepts.

The sale transaction was brokered for both sides by BradNathanson, a director with the National Retail Group of Marcus& Millichap in that firm's Philadelphia office. M&M hadpicked up the exclusive on the property in early 2006. "The marketfor this shopping center was tremendous, as more than 20 offerswere submitted within a three-week marketing period," Nathansonsays.

The deal was also in the offing for about a year. According toNathanson, the property was under contract for that time "due toEDA restrictions in transferring its 10-year tax abatement to thenew owner. The city also wanted to make sure the new ownershipwould come in with experience and professionalism," Nathansonsays.