The property last sold for $162M in 2022.
For the second time in two years, the 760,000-square-foot Providence Town Center open air shopping plaza in Collegeville at Route 422 and Route 29 is on the market again.
The 82-acre center, anchored by Wegmans, was purchased for $162 million in 2022 by Bethesda, Finmarc Management, and KPR Centers, per property records. Finmarc and KPR purchased the parcel in the late 2000s from developer Brandolini, according to property records.
According to The Philadelphia Business Journal, the property is, at present, at 97% occupancy.
Erin Hird, manager of capital markets operations at real estate investment firm JLL, said the shopping center “is one of the dominant, center-of-gravity shopping centers within the Philadelphia MSA, servicing an extremely densely populated trade area and ranking as the #2 most visited shopping center within a 5-mile radius with over +7 million visits over the last 12 months.”
Chicago-based JLL is the listing agent for the property. The sale price has not been disclosed publicly.
