Goodman Properties JV Buys Philly-Area Shopping Center

Creekview Center. Image courtesy of JLL Capital Markets

A joint venture between Goodman Properties and The Provco Group has paid $24.6 million for Creekview Center, a 134,980-square-foot, grocery-anchored shopping center in Warrington, Pa., public records show. JLL Capital Markets brokered the transaction on behalf of the seller, ShopCore Properties.

Shadow-anchored by Target and Lowe’s, Creekview Center features a diverse line of tenants, including Bank of America, LA Fitness, Petco, Wireless Experience, Easton Buffet, TGI Friday’s, Duron Paint, Chipotle, Jo-Ann and Easton Buffet.

Creekview Center is at 425 Easton Road in the North Philadelphia market, close to the intersection of Route 132 and Route 611. According to JLL, the property sits in an area where the daily traffic count reaches approximately 57,000 vehicles and the number of annual customer visits approaches 3 million.

Managing Director Colin Behr, together with Senior Managing Directors Christopher Munley and Jim Galbally, led the JLL Retail Capital Markets Investment Advisory team representing the seller. The same brokers recently negotiated a $27 million transaction on behalf of PREIT, which sold a 65,155-square-foot Whole Foods Market parcel in Plymouth Meeting, Pa.