A joint venture involving Abrams Realty & Development
of Elkins Park and Onyx Equities of Woodbridge, N.J., have bought the Penrose
Plaza Shopping Center in Southwest Philadelphia from a Korman Commercial
Properties subsidiary for $25 million.
The new owners plan to expand and remodel the ShopRite
supermarket at the 263,000-square-foot shopping center, located in the city's
Eastwick section, Abrams managing partner Peter Abrams said Tuesday.
Abrams said he also was negotiating with potential new
tenants for the former location of a 95,000-square-foot Kmart store there.
Source: Philly.com
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