PHILADELPHIA, PA—Freedom Credit Union has leased 2,000 square feet at Morrell Plaza in Philadelphia, becoming the latest business to join the tenant mix at this 103,250-square foot shopping destination. Located directly on Frankford Avenue/Route 13, Morrell Plaza is exclusively leased and managed by North Plainfield, NJ-based Levin Management Corporation.
Levin senior leasing representative Sidney Singer arranged the lease; John C. Shelly of Cushman & Wakefield represented the tenant in the transaction. Freedom Credit Union is a community-based, full-service financial institution that offers a banking alternative to consumers. Anyone who lives, works, worships, performs volunteer service or attends school in Bucks, Chester, Delaware, Montgomery or Philadelphia counties is eligible for membership.
“The presence of a high-volume grocer, exceptional demographics and a visible location—in the retail heart of a busy Northeast Philadelphia neighborhood—makes Morrell Plaza an attractive place to conduct business,” says Singer. “Freedom Credit Union will bring a new retail category for the center, and its presence undoubtedly will enhance Morrell Plaza’s co-tenancy as we continue to expand the property’s retail offerings. We are confident this organization’s professional financial services will be a valuable resource for its members.”
Morrell Plaza is anchored by a 63,000-square-foot, newly renovated ShopRite supermarket and a 12,700-square-foot Rite Aid drugstore. The tenant roster includes a mix of national, regional and local retailers and service providers including T-Mobile, Supercuts, Dunkin’, and Yamato Sushi & Hibachi, among others. The property serves a five-mile residential population of more than 399,800 and its daily traffic count exceeds 36,000 vehicles.