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Joint Venture Sells Northeast Philadelphia Shopping Center for $56.5 Million

Red Lion Plaza Was 97% Leased at Time of Sale
During the joint venture's ownership period, it executed a value-add strategy that resulted in the addition of Burlington and Ross Dress For Less as anchor tenants in late 2019 and early 2020, respectively. (Finmarc Management Inc.)
During the joint venture's ownership period, it executed a value-add strategy that resulted in the addition of Burlington and Ross Dress For Less as anchor tenants in late 2019 and early 2020, respectively. (Finmarc Management Inc.)
By CoStar News Staff
November 22, 2021 | 7:18 P.M.

A joint venture between Bethesda, Maryland-based Finmarc Management Inc. and New York-based KPR has sold Red Lion Plaza, a shopping center located in Northeast Philadelphia, for $56.45 million.

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