JBG Selling New King Of Prussia Shopping Center Ahead Of Huge Merger
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The King of Prussia Town Center, a relatively new open-air retail plaza, has been put up for sale by The JBG Cos.
The 263k SF center was held out of an ongoing merger between JBG and Vornado's DC business, and months of uncertainty about its future have been resolved with this development. It is JBG's lone property in the area, and it is 84% leased by retail clients such as steakhouse Fogo de Chao, Nordstrom Rack and REI, according to the Philadelphia Business Journal.
The King of Prussia Town Center is part of the planned Village at Valley Forge, a 130-acre mixed-use community of office, retail and multifamily buildings that is being built in stages. Its location at the juncture of the Pennsylvania Turnpike and routes 202 and 422 has meant a healthy amount of traffic and business for the center so far. [PBJ]