October 15, 2019– JLL announced today that it has closed the sale of County Line Plaza, a 74,968-square-foot, dual-anchored retail center in an infill location in northeast Philadelphia, Pennsylvania.
JLL marketed the property on behalf of the seller, Slate Property Group. A private investor purchased the asset.
County Line Plaza is anchored by a high-performing Big Lots and a new The Edge Fitness Club. The 90.3% leased center is also home to Integrated Medical Care, Pho Palace, Akira Sushi and DT Nails & Spa. Situated on 7.67 acres at 15501 Bustleton Avenue, the property is visible to approximately 40,000 vehicles a day from frontage along Bustleton Avenue and County Line Road. County Line Plaza is 20 miles from Center City Philadelphia within an infill area that is being revitalized by the Far Northeast District plan, which is improving the area surrounding the property and making it more pedestrian-friendly by improving sidewalks, refurbishing rail stops and building a town center. More than 94,700 residents earning an average annual household income of $88,839 live within a three-mile radius of the center.
The JLL Capital Markets team representing the seller was led by Managing Directors Chris Munley and Jim Galbally and Senior Vice President Colin Behr.
“Demand remains high for infill, high barrier-to-entry retail real estate within the Philadelphia Metro,” Munley said.