Partnership Acquires Six Shopping Centers for $165M
Lamar Cos. and Real Capital Solutions have purchased a 293,550-SF lifestyle center near Philadelphia as the partner's sixth retail center acquisition in the past five months.
WARRINGTON, PA – Partners, Lamar Cos. and Real Capital Solutions have acquired six shopping centers in the past five months, totaling more than $165 million.
Most recently, in April 2022, the companies purchased the 293,550-square-foot lifestyle center, The Shops at Valley Square, in the Philadelphia suburb of Warrington, PA. The class A mixed-use lifestyle center features retail, office and multifamily space across nine free-standing buildings. The asset features a centrally-located courtyard area with a pavilion/gazebo, firepit area and seating areas, and offers a “main street” experience for consumers.
The Shops at Valley Square is shadow-anchored by Wegmans and is occupied by a mix of tenants, including retailers, Ulta Beauty, DSW, Banana Republic and Eastern Mountain Sports, and restaurants, PF Chang’s, Playa Bowls, Panera Bread, Turning Point, Gran Rodeo Mexican Grill, Great Barn Taphouse and Ardana.
Built in 2007, the lifestyle center is situated at the intersection of the county’s busiest arteries, Route 132 and Route 611. The asset is located 16 miles north of Philadelphia, PA.
Previously, in February 2022, the partners acquired a four-shopping center portfolio in Puerto Rico and in December 2021, the companies acquired Stone Creek Towne Center in Cincinnati, OH.
Within the past 11 years, the partnership has acquired nearly $500 million in total assets. The two companies continue to seek value-add shopping centers across the US and Puerto Rico.