First National Realty Partners Expands Grocery-Anchored Center Portfolio in Pennsylvania

Quakertown, PA

We are pleased to announce the addition of Richland Marketplace in Quakertown to our rapidly expanding, grocery-anchored shopping center portfolio. This 162,000-square-foot asset marks our sixth purchase in Pennsylvania and second in the Allentown Metro area.

The market-dominant open-air center is anchored by a 17,000-square-foot Aldi grocery store. A tenant at the site since it was constructed in 2009, Aldi is a privately owned, German-based discount supermarket brand with over 2,000 locations across 36 states and 11,000 stores globally. Richland Marketplace’s tenant roster also features a strong mix of national retailers, including Best Buy, PetSmart, Planet Fitness, Staples, Ulta, Visionworks, and Sally Beauty. The remaining 11,400 square feet of available space provides meaningful upside potential by way of increased occupancy and cash flow.

Richland Marketplace is situated 12 miles south of Allentown on Route 309, a major north/south thoroughfare with access to many of Philadelphia’s affluent suburbs. A population of more than 209,000 people with average household incomes exceeding $107,000 within a 10-mile radius of the property.

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