PHILADELPHIA-Locally based Meyer & Meyer, Inc., has paid $900,000, or $112 per sf, for Payless Plaza, an 8,040-sf neighborhood strip shopping center at 249 Glenside Ave. in suburban Holmes in Delaware County. The seller is locally based R & O Real Estate Partnership.

The Payless Plaza is one of hundreds nationwide and among more than a dozen in southeastern Pennsylvania that are anchored by Topeka, KS-based Payless Shoe Source, a discount footwear retailer. The Holmes shopping center was completed in 1979. It was 100% leased at the time of the sale.

The Philadelphia office of Encino, CA-based Marcus & Millichap, which isheaded by Jeffrey Algatt, arranged the sale. M&M also found the buyer.

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