In two deals between a couple of the Philadelphia area's big real estate families, the Kormans are selling to the Tolls:
Bruce E. Toll's BET Investments Inc., Horsham, this week paid $18.225 million to buy Bucks Crossing Shopping Center, Feasterville, from Korman Commercial Properties, says president Michael P. Markman. BET also bought the Tremont Shopping Center, Welsh Rd. (corrected). at Roosevelt Blvd., from Korman in June, for $10.4 milllion.
Bruce E. Toll's BET Investments Inc., Horsham, this week paid $18.225 million to buy Bucks Crossing Shopping Center, Feasterville, from Korman Commercial Properties, says president Michael P. Markman. BET also bought the Tremont Shopping Center, Welsh Rd. (corrected). at Roosevelt Blvd., from Korman in June, for $10.4 milllion.
Bucks Crossing covers 131,000 sq ft, more than half in an Acme supermarket, plus TJ Maxx, Petco, Wells Fargo, Five Guys Burgers, Saladworks. Markman called it a rare opportunity: Grocery-anchored developments 'do not change hands very often" around Philly, he said.
BET owns 6 million sq ft of commercial property and 1,500 apartments, in 12 states.
Source: Philly.com
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