Lifestyle Center Shadow Anchored By Whole Foods

Equity Retail Brokers is pleased to offer the opportunity to acquire the fee simple lessor position for a Whole Foods shadow anchored lifestyle retail building at the entrance to the Plymouth Meeting Mall. The tenant, Pennsylvania Real Estate Investment Trust, has a 30-year NNN bond lease on the site (with options extending the term until 2100), which commenced in 2020. The building is approximately 214,638 square feet and is occupied by: Dick’s Sporting Goods, Burlington Coat Factory, Michael’s, Edge Fitness, Miller’s Ale House, Ideal Image, and Real Fruit. This investment is secured by the significant rental coverage multiple of the sub-tenants.

The Plymouth Meeting Mall occupies one of the Philadelphia MSA’s most desirable retail sites. At the center of the mall sits the subject property, which has maximum visibility from Germantown Pike, ideal ingress/egress from the main entrance and prime signage.
Located less than ½ mile from one of the region’s largest highway system hubs, the subject property benefits from all of the infrastructure brings: large office population, premier retail tenants, strong traffic counts, dense residential, and high-income levels. The diverse tenant mix within the subject property and surrounding properties have strong synergies and allow for a one-stop destination for consumers.

*Ownership will credit seller at closing for NPV of Rent Difference

• This investment is secured by the significant rental coverage multiple of the sub-tenants
• The Property benefits from rental increases that are built into the initial lease term & options, with rare CPI adjustments in base term & options
• A completely “Hands-Off” investment – No landlord responsibilities
• Fully renovated in 2019
• The investment is secured by the strong sub-tenant lineup, and the long-term leases in place. Tenants include: Dick’s Sporting Goods, Burlington, Edge Fitness, Michael’s, Miller’s Ale House, Ideal Image, Real Fruit
• Located at the Plymouth Meeting Interchange, which connects I-476 (North/South) with the Pennsylvania Turnpike (East/West)
• Over 45,000 VPD pass the site with prime visibility from Germantown Pike