Turning Vision into Value
940 Haverford Road
Bryn Mawr, PA 19010
T 610-552-6000
F 610-552-6001
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Adding value through expert redevelopment and leasing strategies.

News

WP Realty announces the sale of Carlisle Crossing

Press Release

Bryn Mawr, PA – September 18, 2014 – WP Realty is pleased to announce the successful sale of Carlisle Crossing in Carlisle, Pennsylvania.

WP Realty sold this 368,000 square foot shopping center to American Realty Capital Properties for $22,250,000, representing a 7.35% cap rate on in-place NOI.

Since the center’s acquisition in 2011, WP Realty had successfully stabilized the property, increasing occupancy from 83% to 94%, by finalizing leases with Michael’s, Target, Kohl’s, Pet Smart, Aldi and Old Navy.

The center is located immediately east of Interstate 81, approximately one mile east of downtown Carlisle, which is home to Dickinson College and Penn State Dickinson School of Law.

About WP Realty
WP Realty is a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania. 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 for additional information.