In Allentown, Larken Associates purchased the 230,284-square-foot Tilghman Squarefor $19.4 million. The Hillsborough, NJ-based firm did not reveal the sales price or former owner, but a 2007 article in Construction Today magazine listed the Lamar Cos., of Morristown, NJ, as the owner in 2007.
Anchored by Amelia's Grocery Outlet, Staples and an AMC Theatre, Tilghman has a total of 36 stores. Smaller tenants include PNC Bank, Wendy's and Red Robin, in the 96%-leased center.
Further south in Bensalem, Bensalem Crossing Associates sold the 67,315-square-foot Bensalem Crossing to a private entity for $13.6 million, in a deal brokered by Marcus & Millichap. The center, which traded at a 7.85% cap rate, is leased and managed by the Goldenberger Group, which will continue to stay on after the transaction. ShopRite and CVS are Bensalem Crossing's main tenants, occupying 93% of the asset.
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