JLL Capital Markets facilitates sale of grocery-anchored retail center in suburban Philadelphia MSA
News release
10 March 2025
Sale of Bensalem Shopping Center arranged
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PHILADELPHIA, Mar. 10, 2025 – JLL Capital Markets announced today that it has arranged the sale of Bensalem Shopping Center, a 109,057-square-foot grocery-anchored retail center with a 6.41% cap rate in Bensalem, Pennsylvania.
JLL worked on behalf of the seller, Empire Realty Investments Inc.
Located at the intersection of Street Rd., which sees over 32,600 vehicles per day and Hulmeville Rd., Bensalem Shopping Center enjoys a strategic position with excellent visibility and accessibility. Situated along the main retail corridor in Bensalem, the center is just 15 miles north of Center City Philadelphia and benefits from its position in a densely populated, affluent suburban Philadelphia submarket.
The center, originally built in 1972, sits on an 8.8-acre lot and is currently 100% leased. It is anchored by Patel Brothers, the largest Indian grocery chain in the United States. Other notable tenants include Dollar General, Advance Auto Parts and Unlimited PCS.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Director Jim Galbally and Director Patrick Higgins.
"This transaction highlights the continued investor interest in well-located, grocery-anchored retail centers with strong tenant mixes," said Galbally. "Bensalem Shopping Center's 100% occupancy, below market rents and strategic location in a densely populated, affluent submarket make it an attractive investment opportunity in the Philadelphia MSA retail market."
“Grocery-anchored demand remains robust in the mid-Atlantic,” added Higgins. “The diversity of new capital seeking to gain exposure to the asset class and geography continues to drive pricing and demand for well-located product throughout our region.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Empire Realty Investments Inc
Empire Realty Investments Inc, founded by Michael Pearlstein in 1987 through a merger with his father's Empire Realty Company, has grown from its family roots in Philadelphia to a national presence with over 120 properties in 18 states. The company's expertise spans transactions, acquisitions and management across the United States, building on decades of real estate experience.