JLL Capital Markets announced this week that it closed the sale of West Manchester Town Center, a 488,037-square-foot retail complex in York County.
A Paramount Realty Joint Venture purchased the property for $42.5 million, BizNewsPA reported. JLL represented the seller, ATR Corinth Partners.
“We at ATR Corinth are excited about the redevelopment of West Manchester Town Center into a dynamic retail center that will serve the community for decades,” Partner Tony Ruggeri said in a release. “As with any project of this size, we would like to thank the officials at West Manchester Township, the Redevelopment Authority of York County and the residents of the township and county for their support in this transformation.” Based in Lakewood, New Jersey, Paramount Realty owns and operates a portfolio of more than 15 million square feet throughout the Northeast, including other retail centers in central Pennsylvania.
On 94.1 acres, West Manchester Town Center is at 415 Town Center Drive and features such national retailers as Kohl’s, At Home, HomeGoods, Hobby Lobby and Burlington.
The release noted that the property drew more than 4.2 million customer visits over the last year, the second most visits to an open-air shopping center within a 15-mile radius.
“We have seen renewed demand for best-in-class power centers over the last 24 months, which speaks to the positive macro performance of big box retailers as we exited the pandemic,” added JLL Senior Director Chris Behr.
“With an extremely competitive bid process, West Manchester is a perfect example of this ongoing trend.”
Paula Wolf is a freelance writer.