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