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Velocity Venture Partners Acquires Richland Plaza Shopping Center In Quakertown, PA For $16.7M

Property Image
SOLD
$16,700,000

Pennsylvania

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Retail225,000 SF
Sold 07/10/2023
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Property Image
SOLD

Velocity Venture Partners Acquires Richland Plaza Shopping Center In Quakertown, PA For $16.7M

733 South West End Boulevard Quakertown, Pennsylvania 18951, USA

See Similar Deals
Retail225,000 SF
Sold 07/10/2023
the dealplayerscompscontact
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Summary

PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$74
Total Square Footage:225,000 SF
Transaction Type:Sale

Velocity Venture Partners has acquired Richland Plaza, a 225,000-square-foot shopping center in Quakertown, Pennsylvania. The property, situated on 20 acres, has been sold by APS Associates for a total price of $16.7 million. Richland Plaza is home to various tenants, including Wells Fargo and Ollie's Bargain Outlet. The buyer, Velocity Venture Partners, has plans to redevelop the shopping center.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $16,700,000
  • Square Footage: 225,000
  • Address: 733 South West End Boulevard, Quakertown, Pennsylvania
  • Market: Quakertown, Pennsylvania
  • Buyer: Velocity Venture Partners
  • Seller: APS Associates
  • Broker: James Balliet - The James Balliet Property Group - Keller Williams

James Balliet from The James Balliet Property Group, representing Keller Williams, facilitated the transaction between Velocity Venture Partners and APS Associates in the sale of Richland Plaza.

Players

JB
Keller Williams Realty
James Balliet
1 deal$16.7M volume
BROKER
VP
Velocity Ventures Partners
BUYER

Details

SOLD
IMAGE: James Balliet DATE: 07/10/2023 ADDRESS: 733 South West End Boulevard MARKET: Quakertown, Pennsylvania ASSET TYPE: Retail ~ ACRES: 20 BUYER: Velocity Venture Partners SELLER: APS Associates BROKER: James Balliet - The James Balliet Property Group - Keller Williams (@KellerWilliamsRealty) SALE PRICE: $16,700,000 SF: 225,000 ~ PPSF: $74 NOTE: Velocity Venture Partners has purchased Richland Plaza, a 225,000-square-foot shopping center in Quakertown, for $16.7 million. The buyer plans to redevelop the property, which is situated on 20 acres and houses tenants such as Wells Fargo and Ollie's Bargain Outlet.

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