The property sold is a retail shopping center located at 5597 Tulip Street in Philadelphia, comprising 97,982 square feet. The transaction involved a sale price of $30,800,000 for the ShopRite-anchored shopping center, which occupies 11.3 acres and is currently 98% leased. The center is notable for its high visibility and access to a trade area with over 730,000 residents.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $30,800,000
• Square Footage: 97,982
• Sale Price per Square Foot: $314
• Buyer: Brown’s Real Estate
• Seller: Gary S. Baumann - Arctrust
• Brokers: Jim Galbally, Patrick Higgins & JP Colussi - JLL

The sale was facilitated by brokers Jim Galbally, Patrick Higgins, and JP Colussi from JLL, who represented the seller, Arctrust. The shopping center includes tenants such as Wawa and Popeyes, showcasing a diverse retail mix contributing to its high occupancy rate.