IPA Negotiates $24.6M Sale of Philadelphia Retail Center

by Taylor Williams

PHILADELPHIA — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of City Avenue Center, a 20,220-square-foot shopping center in Philadelphia. Shadow-anchored by Target, the center was fully leased at the time of sale to tenants such as Chipotle Mexican Grill, Verizon, Sleep Number and PNC Bank. Brad Nathanson, David Crotts and Dean Zang of IPA represented the undisclosed seller in the transaction and secured the buyer, a Maryland-based family office.

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