Katz Properties Acquires 266,565 SF Retail Property in Quakertown, Pennsylvania, for $47.2M

QUAKERTOWN, PA. — Katz Properties has purchased Richland Marketplace, a shopping center located on 36.9 acres on Route 309 in Quakertown. An undisclosed seller sold the property, which was built in 2008, for $47.2 million. Aldi, Best Buy and BJ’s Warehouse anchor the 266,565-square-foot retail center. At the time of acquisition, the property was 90 percent occupied. Additional tenants include Petsmart, Five Below, Mattress Firm, Ulta, Red Robin, Chick-fil-A, WaWa and BB&T Bank. Chris Munley of HFF represented the buyer and seller in the deal. Katz Properties will provide leasing and property management services for the retail center.