Kenhorst Shopping Center Sold

Kenhorst Shopping Center Sold

Katz Properties based in New York purchased the Kenhorst Plaza Shopping Center in Shillington for $16.150 Million.  The property consisted of 161,424 square feet and was comprised of 26 total spaces of which twenty were occupied.

Some of the key tenants located within the center are Redner’s Warehouse Markets, Dollar Tree, and the U.S. Post Office.

The property has been part of numerous sales including a transaction in 2008 when it sold for $22.397 Million and a transaction in 2001 for $18.725 Million.

A 28% drop in value since 2008, although the rent rolls were not compared.

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NAI Keystone is a full service commercial and industrial real estate firm located in Reading PA; We handle buyer, tenant, and landlord representation throughout Pennsylvania and with the association of our global partners we can assist in locating product throughout the country.