ShopOne Centers REIT Inc. And Pantheon Acquire Retail Properties In Bensalem And Newtown For $28.9M

The asset involved in this transaction includes two retail properties: Goodnoe’s Corner, located at 290 North Sycamore Street, encompassing 34,660 square feet, and Village Center, located at 2363 Pasqualone Boulevard, which consists of 87,705 square feet. The combined sale price for these properties is $28,900,000, translating to a price per square foot of $236 in the Bensalem and Newtown, PA markets.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $28,900,000
• Buyer: ShopOne Centers REIT Inc. & Pantheon
• Seller: Palladino Development Group
• Total Square Footage: 122,365

This transaction involved a joint venture between ShopOne Centers REIT Inc. and Pantheon, along with a global investor. The deal reflects their acquisition of fully leased retail centers from Palladino Development Group, which demonstrates their strategic interest in the Bensalem and Newtown markets.