DRA Advisors & KPR Centers Secure $55M Financing For Quartermaster Plaza, Philadelphia

The Quartermaster Plaza, a 456,208-square-foot retail property located at 2200 West Oregon Avenue in Philadelphia, was acquired in 2022 for $100.1 million. The shopping center features a diverse tenant mix that includes BJ’s, The Home Depot, and Sprouts Farmers Market, and has been experiencing strong performance in the bustling retail market of Greater Philadelphia.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $55,000,000
• Market: Philadelphia
• Acres: 44
• Lender: Webster Bank
• Landlord: David Luski - DRA Advisors; Dan Katz - KPR Centers
• Brokers: Blaine Fleming, James Galbally, Michael Gigliotti & Michael Pagniucci - JLL
• Loan Type: Refinance
• Loan Terms: Five-year

The financing deal for Quartermaster Plaza was secured from Webster Bank by DRA Advisors and KPR Centers, with JLL Capital Markets facilitating the arrangement. The property's success in the retail market is attributed to its prime location and the positive leasing activity driven by popular anchor tenants.