CBRE announced that it has arranged for the sale of Liberty Plaza, a 372,130 square-foot neighborhood shopping center located at 4501 Woodhaven Road in Philadelphia, Pennsylvania. The shopping center, which sits on 33-acres, was acquired by 4501 Woodhaven Holding, LLC for a sale price of slightly more than $10,000,000.

CBRE’s Peter Stevens and Kevin McClernon represented the seller, U.S. Bank National Association, during marketing and negotiations.

“Liberty Plaza offers a terrific redevelopment opportunity,” said Mr. Stevens, Executive Vice President. “Multiple uses are a possibility for the property with solid anchor tenants in place including Dick’s and Raymour and Flanigan.”

Constructed in 1989, the property is highly visible and in close proximity to the Philadelphia Mills Mall. Liberty Plaza is located within an influential trade area with primary access along Woodhaven and Street Roads, both linking with Roosevelt Boulevard to the west and Interstate 95 to the east, making it an ideal area for national and local retailers.

The multi-tenant property was approximately 45 percent occupied at the time of sale. Other tenants at the shopping center include Burger King, Grand China Buffet and Liberty Nail Salon. 

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.