Providence Town Center Complex Up for Sale
The Wegman’s Market at Providence Town Center (at top) opened during July 2009
COLLEGEVILLE PA – Providence Town Center, the 760,000-square-foot “Main Street concept” shopping center built several years ago at the northwest corner of Collegeville-Phoenixville intersection of U.S. Route 422, is being put up for sale by its owner, Brandolini Companies, according to the Philadelphia Business Journal.
Journal reporter Natalie Kostelni writes that the center, boasting a lease rate of 92 percent, is among several retail properties Brandolini has listed for sale in what was described as “the company unwinding its assets.” It could fetch an estimated $160 million or more, her article stated.
The center includes a Wegman’s Food Market with a lease that runs through 2029 with options beyond, a Movie Tavern, Best Buy, and LA Fitness.
The facility, sprawling over 80 acres, currently is ranked by one real estate data source as “among the top open air centers in the region with 3.3 million annual visits.” The center’s proximity to major pharmaceutical companies and luxury housing communities is considered a boon to its continued future success.
During July (2021), Kostelni added, Brandolini “closed on a $114.25 million sale that included the Limerick Crossing shopping center at 37 W. Ridge Pike, as well as the Lionville Shopping Center, Hamilton Square, Spring Towne Shopping Center, Dreshertown Plaza, and Marketplace at Westtown.
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