We are pleased to announce that Nassimi Realty LLC has completed the purchase of two additional shopping centers in the greater Philadelphia market. The acquisitions include Weis Plaza in Kutztown, PA and Airport Village in Coatesville, PA.
Built in 1975, Weis Plaza is a strong 115,000 SF regional center anchored by Weis supermarket and a Dollar General store. As of today, Weis Plaza is 80% leased and due to its close proximity to Kutztown University (just one mile away from the main campus) the plaza is easily accessed by over 10,000 enrolled students.
With over 70,000 SF of gross leasable area, Airport Village is a brand new redeveloped neighborhood center with a Bottom Dollar supermarket and a Rite Aid store that anchor the site. Currently, the center is 75% leased by Burger King, Snap Fitness , First Niagara Bank and several other inline tenants. It is located 40 miles West of downtown Philadelphia at the intersection of Lincoln Highway & Airport Road giving it prominent visibility from the street and easy access to the 150,00 people located within a 10 mile radius.
Commenting on the acquisition, Nassimi Realty president, Mike Nassimi said, “We are pleased to acquire two stable grocery anchored centers in the Greater Philadelphia market. We are continuing to look at acquiring properties in the north-east, especially in the greater Philadelphia corridor.”