Colliers has arranged the sale of Milford Landing Plaza, a fully leased retail center in Milford, Pennsylvania, for $12.8 million. The property, located at 102 Milford Landing Drive, was sold by a special-purpose entity affiliated with CenterPoint Properties to Pump Place, LLC.
The Colliers team representing the seller was led by Senior Vice President Jeff Algatt, Senior Vice President Derek Zerfass, and Vice President Scott Horner. The trio oversaw the marketing of the asset and guided the transaction through to closing on behalf of the CenterPoint-affiliated entity. Their mandate focused on positioning the center as a stabilized, income-producing investment.
Milford Landing Plaza comprises 43,956 square feet of retail space and is reported to be 100% leased and occupied on a net-lease basis. The center is anchored by Harbor Freight, and it benefits from proximity to several major national retailers that serve as shadow anchors, including Lowe’s, Home Depot, and Walmart. This tenant mix and surrounding retail concentration support the asset’s positioning as a turnkey investment with an existing cash-flow profile.
The buyer, Pump Place, LLC, acted as the legal purchasing entity for Wells Real Estate Investments, which is based in Allentown, Pennsylvania. According to Colliers, the acquisition forms part of a broader 1031 exchange strategy undertaken by Wells Real Estate Investments following the recent sale of an industrial asset. Milford Landing Plaza is the first completed acquisition within that exchange portfolio, marking an initial redeployment of proceeds into a stabilized retail asset.
This transaction highlights ongoing investor interest in well-leased, necessity- and value-oriented retail centers supported by established national brands. For Wells Real Estate Investments, the move into a fully occupied, net-leased retail property through a 1031 exchange offers an immediate income stream and a defined foothold in the Milford retail corridor, while the seller successfully exits a fully stabilized asset via an institutional brokerage process.
