BENSALEM, Pa. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today the successful closing of Bensalem Crossings, a 67,215-square-foot grocery- and drug-anchored shopping center in the Philadelphia metro. The property sold for $12.45 million to a private investor based in California.
Hanley Investment Group's Executive Vice Presidents Kevin Fryman, Bill Asher, and Jeff Lefko, in association with ParaSell, Inc., represented both the seller, Adler Realty Investments Inc., and the buyer, a private exchange investor based in Southern California.
"We generated multiple competitive offers from private investors and mid-sized investment firms based in California and the East Coast, and selected a California-based exchange buyer with whom Hanley Investment Group has successfully transacted multiple times," Fryman said. "The combination of long-term leases and occupancy history, pricing below replacement cost, and favorable assumable debt terms made Bensalem Crossings a compelling investment opportunity."
Fryman added, "The 25-year operating histories of ShopRite and CVS at this location, coupled with ShopRite's significant capital investment in its store, were highly attractive characteristics of the shopping center."
Built in 1999 on 9.38 acres, Bensalem Crossings is located at 2200-2290 Bristol Road in Bensalem, Pennsylvania. The center is anchored by ShopRite and CVS/pharmacy, which together occupy 93% of the space. Verizon and a T-Mobile cell tower round out the 100% national tenant roster.
ShopRite is a leading supermarket cooperative with more than 300 stores across six northeastern states. Founded in 1946 and headquartered in New Jersey, it operates under Wakefern Food Corporation, the largest retailer-owned cooperative in the U.S. Each store is independently owned and operated, combining local responsiveness with the scale and resources of Wakefern. The chain is known for competitive pricing, broad selection, and strong regional loyalty.
CVS Pharmacy (NYSE: CVS), which has also operated at the center since 1999, recently extended its lease. The drive-through location is consolidating operations from two nearby closures and ranks as the #1 pharmacy by market share and retail sales (Statista, 2023). CVS is rated BBB by S&P and is #6 on the Fortune 500 list (2024).
The property is located at the signalized intersection of Bristol Road and Hulmeville Road (Highway 513) in Bensalem, Pennsylvania, within the Philadelphia MSA. The surrounding area boasts an average household income of $121,000 within one mile and a population of 248,000 within five miles. Nearby attractions include Parx Casino & Gaming, the largest casino complex in Pennsylvania, and convenient access to I-276, I-295 and I-95.
Philadelphia is the sixth most populous city in the U.S. with a GDP exceeding $518.5 billion, ranking as the 10th largest economic region nationally. The metro is home to 13 Fortune 500 headquarters and was ranked #33 among the "Top 1,000 World Cities" by Oxford Economics (2024).
"Investor appetite for grocery-anchored retail remains steady, especially in major metros with strong demographics and limited new supply," said Fryman. "With the potential for lower interest rates on the horizon, we anticipate increased demand for stabilized, necessity-based centers offering long-term leases and durable cash flow."
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $12 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.
For more information, visit www.hanleyinvestment.com.
Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Kevin Fryman, Executive Vice President
Email: Send Email
Phone: 949.585.7674
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/
