Outparcels to Upland Square Shopping Center

Pottstown, PA

The Opportunity

Summary

Price: $21,455,615
Land Area: 14.13 Acres
Weighted Average Lease Term: 4.9 Years
Weighted Average Tenure: 8.84 Years

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a select group of outparcels to the grocery-anchored shopping center, Upland Square (the “Property”) in Pottstown, PA. The Upland Square Outparcels are part of the 550,000 square foot Upland Square shopping center with advantageous visibility off PA-100 (26,424 VPD) and Upland Square Drive (12,796 VPD). The Property sits just one and three quarters (1.75) miles from the entrance to US-422 West towards Reading and US-422 East towards King of Prussia which boasts 52,481 VPD. The Property’s tenant mix offers a variety of uses, including entertainment, food & beverage, and medical, creating a true community center with excellent complimentary uses to the Giant grocery-anchored center which features other national retailers including Target, Burlington, TJ Maxx, LA Fitness, Ross Dress for Less, Bed Bath & Beyond, Five Below, Ashley, Petco, Mattress Firm, Citizens Bank and more. According to Placer.ai, which tracks foot traffic via GPS cellular phone data, the subject property Aspen Dental is the #1 ranked Aspen Dental location in the country based on the number of visits and the subject property Chili’s Grill & Bar ranks in the 85th percentile of Chili’s locations within thirty (30) miles.

Investment Highlights

• The Offering benefits from excellent visibility off PA-100 (26,424 VPD) and Upland Square Drive (12,796 VPD). Additionally, the properties have outstanding accessibility from major thoroughfares as they sit just one and three quarters (1.75) miles from the entrance to US-422 West and US-422 East which boast 52,481 VPD.

• The Upland Square outparcels are shadow anchored by the 550,000 square foot Upland Square Shopping Center whose tenant lineup includes Target, Giant, T.J. Maxx, Burlington, Ross Dress for Less, Ashley Furniture, LA Fitness, Bed Bath & Beyond, Five Below, Xfinity, Mattress Firm, Staples, Party City, Petco, Ulta, Citizens Bank, Visionworks, Subway, GNC, Supercuts, Hallmark, Famous Footwear, H&R Block, ATI Physical Therapy, Hand & Stone, and European Wax Center.

• According to Placer.ai, which tracks foot traffic via GPS cellular phone data, Aspen Dental is the #1 ranked Aspen Dental location in the country based on the number of visits and Chili’s Grill & Bar ranks in the 85th percentile of Chili’s locations within thirty (30) miles.

• Pottstown is a borough in Montgomery County, the third-most populous county in Pennsylvania and the #1 most populated suburban county in the Philadelphia MSA. Moreover, Montgomery County is the 2nd wealthiest county in the state.

• The Property is ideally located about forty (40) miles northwest of Philadelphia and twenty (20) miles southeast of Reading within a strong demographic area, as the population within 5-miles is over 94,000 and has benefited from over five percent (5%) growth since 2010. Within one, three and five miles of the properties, the population and number of households are projected to continue to increase through 2026 according to ESRI.

• In addition to having the Pottstown campus of Montgomery County Community College within the area, the borough is home to The Hill School. The Hill School ranks as the 2nd best boarding high school and the 5th best private high school in the state of Pennsylvania according to Niche.com.