North Penn Market Place

Jones Lang LaSalle Americas, Inc (“JLL”) is pleased to exclusively offer the opportunity to acquire North Penn Market Place (“the Property”), a 58,358 square foot, service-oriented neighborhood shopping center located in Lansdale Montgomery County, PA via condominium interest. The 85% leased Property is shadow anchored by a high-performing, best-in-class grocer in Weis Markets, who ranks as the #1 most visited Weis within a 15-mile radius out of 6 locations. The Property features a highly complementary merchandising mix with contemporary retail uses that include service-oriented, medical, food and beverage, financial services and more. Additionally, at 85% leased, there remains a significant value-add opportunity to further optimize the tenant mix and immediately increase NOI.

North Penn Market Place is a quintessential, best-in-class shadow grocery-anchored neighborhood shopping center ideally positioned in an affluent, densely populated suburban marketplace with excellent roadway access, visibility and proximity to an abundance of daytime demand drivers. The Property provides investors with a service-oriented merchandising mix with 4.1 years of weighted average lease term and 15.8 years of weighted average tenure in addition to limited capex requirements and no immediate deferred maintenance. Investors will have the opportunity to re-lease the 8,468 SF vacancy directly adjacent to Weis and have optionality to spin out of free-standing pads in Key Bank and McDonald’s.