Marcus & Millichap Closes Two-Property Retail Center Sale in Pennsylvania
Marcus & Millichap has announced the successful brokerage of two retail property sales in Pennsylvania: Goodnoe’s Corner, a 34,660-square-foot town center in Newton, and Village Center, an 87,705-square-foot grocery-anchored shopping center in Bensalem.
“Goodnoe’s Corner and Village Center are high-quality retail investments with long-term stability and strong tenant mixes,” said Scott Woodard, first vice president of investments at Marcus & Millichap’s Philadelphia office. “The sale highlights the strength of continued demand for well-located retail assets in affluent, high-traffic markets.”
Woodard, along with Derrick Dougherty, represented the seller and secured the buyer—an affiliate of a private real estate investment trust based in New York.
Goodnoe’s Corner, built in 2008, sits on four acres and is located within one mile of Pennsylvania Route 413 and the Newtown Bypass Transportation Center. Village Center, originally constructed in 1976 and renovated in 1999, is strategically positioned near Interstate 276 and is visible from both Bristol Road and Hulmeville Road. Long-term tenants ACME Markets and Wells Fargo have been at the shopping center for 46 and 47 years, respectively.
