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West Manchester Mall Trades Hands for $17.5M

M&R Investors Acquire 742,000-SF Retail Center
September 26, 2012
The Lightstone Group sold the 742,000-square-foot, high-vacancy West Manchester Mall to M&R Investors for $17.5 million, less than $24 per square foot.

Located at 1800 Loucks Rd. in York, PA, West Chester Mall sits on 143 acres in the York County submarket of Philadelphia. The property was 32 percent vacant at the time of sale with nearly 240,000 square feet of space available for lease. M&R Investors plans to redevelop the property.

The Lightstone Group was represented by Savills LLC in this transaction. The buyer did not utilize third-party representation in the sale. The property was initially on the market a year ago, when sources estimated that the sale could attract more than $30 million, before Bon-Ton decided not to renew its lease at the mall.

For additional information on this transaction, please see CoStar COMPS #2556923.
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