LAKEVIEW SHOPPING CENTRE SELLS FOR $23.5 MILLION

by admin

ROYERSFORD, PA. — Marcus & Millichap has completed the sale of Lakeview Shopping Centre in Royersford for $23.5 million. The 194,451-square-foot retail property is situted on more than 30 acres at 947 S. Township Line Road. Tenants include Kohl's, Marshalls, KFC, TD Bank and Wawa. A majority of the center's tenants occupy their spaces on ground leases. Brad Nathanson of Marcus & Millichap's Philadelphia office represented the seller, Reitnour Investment Properties, and the buyer, OLP Lakeview LP. The sales price equates to a 7.7 percent cap rate.

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