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High Real Estate Group Acquires Retail Center In Pottstown From The Gambone Group For $23.8M

Property Image
SOLD
$23,800,000
Patrick Higgins
James "Jim" Galbally

Pennsylvania

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Retail154,219 SF
Sold 04/24/2025
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SOLD

High Real Estate Group Acquires Retail Center In Pottstown From The Gambone Group For $23.8M

80 Glocker Way

See Similar Deals
Retail154,219 SF
Sold 04/24/2025
Patrick Higgins
James "Jim" Galbally
the dealplayerscompscontact
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Summary

PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$154
Total Square Footage:154,219 SF
Transaction Type:Sale

The retail asset involved in this transaction is located at 80 Glocker Way in Pottstown, PA, comprising 25 acres and featuring a square footage of 154,219. The transaction was completed for a price of $23,800,000, translating to a price per square foot of $154.

Summary of transaction details:

High Real Estate Group affiliated acquired the Suburbia Shopping Center from The Gambone Group. The deal was brokered by JLL Capital Markets, highlighting the involvement of James Galbally and Patrick Higgins. The financing for this acquisition was facilitated through a loan from Rialto Capital Management.

Players

James "Jim" Galbally
JLL
James Galbally
26 deals$2B volume
BROKER
Patrick Higgins
JLL
Patrick Higgins
7 deals$539.4M volume(312) 782-5800
BROKER
Rialto Capital Management
Rialto Capital Management
LENDER

Details

SOLD
IMAGE: 04/24/2025 ADDRESS: 80 Glocker Way MARKET: Pottstown, PA ASSET TYPE: Retail ~ ACRES: 25 BUYER: High Real Estate Group SELLER: The Gambone Group BROKERS: James Galbally & Patrick Higgins - JLL LENDER: Rialto Capital Management SALE PRICE: $23,800,000 SF: 154,219 ~ PPSF: $154 NOTE: High Real Estate Group affiliate acquired the 154,219 SF Suburbia Shopping Center in Pottstown, PA from The Gambone Group for $23.8M, with JLL Capital Markets brokering the deal. The 25-acre, 85% leased retail center was financed with a $17.5M loan from Rialto Capital Management.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,269,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$84,556.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$112,824.14
Annual Debt Service$1,353,889.71