DC Investor Buys Red Lion Plaza
Bethesda, Md.-based Spectrum Partners is betting on retail in greater Philly. Recently it acquired Red Lion Plaza, a 230k SF center in Northeast Philadelphia, for $32M. It's 95% anchored by Best Buy, Staples, and Planet Fitness. Managing member Scott Spector tells us that the firm will continue to seek infill retail locations in the mid-Atlantic. This month it also bought 1991 Chain Bridge Rd in Tysons, Va., a vacant 34k property.
La Salle has arrived in the Sweet 16. What else can we say today but "Go Explorers!" And send ideas and suggestions firstname.lastname@example.org