CBRE Group, Inc. (CBRE) announced today that it has arranged for the sale of Town Square Plaza, a 215,610 square-foot power center located at 1100 Town Square Road in Pottstown, Montgomery County, Pennsylvania.

The CBRE team of Brad Nathanson, Executive Vice President, and John Colussi, Sales Associate, negotiated on behalf of the seller, Retail Properties of America, Inc. (RPAI), and identified the buyer, Bluejay Management during the transaction. Town Square Plaza was 98 percent occupied during the time of sale.

Nathanson says, “The shopping center garnered national attention given its proximity to Philadelphia in Chester County and host of national credit tenants.”

Built in 2004, Town Square Plaza is anchored by a 134,574 square-foot Lowe’s Improvement Warehouse, on a long-term ground lease. Additional national and credit retailers include PetSmart, Michaels, Rite Aid, BB&T Bank, Mattress Firm, Hair Cuttery, LongHorn Steakhouse, AT&T and H&R Block.

Located within close proximity to Town Square Center is a new 148,000 square-foot Costco, as well as Simon Property Group’s 553,000 square-foot open-air Philadelphia Premium Outlets. Significant residential development is taking place within 5 miles of the property, with more than 2,362 homes either planned or under construction.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue). The company has more than 75,000 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.us.