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

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:

• Property Type: Retail
• Transaction Amount: $23,800,000
• Buyer: High Real Estate Group
• Seller: The Gambone Group
• Brokers: James Galbally & Patrick Higgins - JLL
• Lender: Rialto Capital Management
• Loan Amount: $17,500,000
• Market: Pottstown, PA
• Acres: 25
• Leased Percentage: 85%

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.