PHILADELPHIA-New Garden Plaza II, a 19,317-sf shopping center on West Cypress Street just west of Downtown Kennett Square in southern Chester County, PA, has been sold for $2.03 million, or $105 per sf. The buyer is identified as New Garden Plaza II Acquisition LLC, and the seller is locally based B&D Properties.

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.

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