Turning Vision into Value
940 Haverford Road
Bryn Mawr, PA 19010
T 610-552-6000
F 610-552-6001
Contact Us

Adding value through expert redevelopment and leasing strategies.

News

WP Realty acquires Middleborough Crossing

WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania, is pleased to announce the acquisition of Middleborough Crossing located in Middleborough, Massachusetts, on December 24, 2007.

Middleborough, on the western border of Plymouth County, is the second largest town in southern Massachusetts, and is situated approximately 40 miles south of Boston. Middleborough is a hot growth area thanks to an attractive cost of living, new commuter rail line and proximity to Interstate 495.

Middleborough Crossing is a 132,158 square foot retail shopping center strategically located on Route 28, close to exit 4 of I-495. The property consists of two single-story buildings and is anchored by a Hannaford Brothers Supermarket in 35,340 square feet and Ocean State Job Lot in 25,000 square feet. Middleborough Crossing is 62% occupied with 50,795 of available retail space (including an anchor space of 41,568 square feet that is master leased by Stop & Shop). Other tenants include Aubuchon Hardware and Subway.

The acquisition of the center also included a 1.33 acre parcel with a separate site entrance along Route 28 that currently has a vacant 5,000 square foot office building and represents additional pad development potential. Middleborough Crossing provided an excellent opportunity to acquire a well-located stable grocery-anchored shopping center with considerable immediate upside through the lease-up of the vacant anchor and inline space.

The principals of WP Realty have extensive expertise in leasing and entrepreneurial management and turning underperforming centers around.

Please contact WP Realty at 940 Haverford Road, Bryn Mawr, PA 19010 (610) 552-6000, fax (610) 552-6001 or for additional information visit our website at www.wprealty.com.