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JLL Negotiates Sale of 236,277 SF Red Lion Plaza Shopping Center in Philadelphia

Red-Lion-Plaza-Philadelphia

Red Lion Plaza in Philadelphia is situated on 18.7 acres at 9908-9960 Roosevelt Blvd. and has average daily traffic count of about 90,000 vehicles.

PHILADELPHIA — JLL has negotiated the sale of Red Lion Plaza, a 236,277-square-foot shopping center in Philadelphia. Built in 1962 and expanded in 2021, the property was 97 percent leased at the time of sale. Tenants include Burlington, Ross Dress for Less, Pep Boys, Planet Fitness, Mattress Firm, Panera Bread, Aspen Dental and Tropical Smoothie Café. Jim Galbally, Chris Munley and Colin Behr of JLL represented the seller, a partnership between Finmarc Management Inc. and New York City-based KPR, in the deal. Michael Pagniucci of JLL arranged acquisition financing through a regional bank on behalf of the undisclosed buyer. The nonrecourse loan was structured with a 12-year term and a fixed interest rate.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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