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News

Lightstone Portfolio

WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania, is pleased to announce the acquisition of the Lightstone Portfolio on December 14, 2006.

The Lightstone Portfolio is a portfolio of six properties located in Pennsylvania (4), New York (1) and Alabama (1) that total approximately 700,000 square feet. The acquisition represented an opportunity to acquire underperforming assets at substantially below replacement cost.

The centers are comprised as follows:

  • Circle Plaza ñ a 92,000 square foot community shopping center anchored by Kmart in Shamokin Dam, Pennsylvania
  • Kingston Plaza ñ a 65,000 square foot community shopping center in Kingston, Pennsylvania
  • Midway Plaza ñ a 207,000 square foot retail shopping center anchored by Office Depot in Opelika, Alabama
  • Plaza 15 ñ a 120,000 square foot retail shopping center anchored by Save-A-Lot in Lewisburg, Pennsylvania
  • Shamokin Plaza ñ a 99,000 square foot community shopping center in Shamokin, Pennsylvania
  • Troy Plaza ñ a 131,000 square foot retail shopping center anchored by Big Lots in Troy, New York

WP Realty specializes in taking underperforming centers and turning them around, drawing on its network of national contacts and expertise in leasing and management.