Jones Lang LaSalle closes sale of Red Lion Plaza
Philadelphia -- Jones Lang LaSalle announced Wednesday that it has closed the sale of Red Lion Plaza for Onyx Equities and Invesco Real Estate. A private buyer purchased the 229,204-sq.-ft. retail shopping center that is located in northeast Phildelphia, is 95% occupied, and anchored by Best Buy, Staples, American Signature and Planet Fitness.
The sale of Red Lion Plaza represents that largest retail transaction in Philadelphia since 2006, according to JLL, who is currently marketing over one million sq. ft. of shopping centers throughout Pennsylvania and New Jersey.