Multiple New Owners Reinventing Great Valley Corporate Center’s Retail Offerings
Once owned by Liberty Property Trust, the Great Valley Corporate Center now has multiple owners who are reinventing its retail center, writes Natalie Kostelni for the Philadelphia Business Journal.
The 700-acre office park with nearly 40 buildings was established by Liberty 45 years ago. But when the company switched to industrial real estate, it was put up for sale.
The new owners now include Exeter Property Group, Workspace Property Trust, Arch Street Capital, and DP Partners Group.
DP Partners purchased the Shops at Great Valley for $5 million two years ago and began a $22 million redevelopment. Now named The Grove, it will no longer be a place for office workers to just eat and pick up their dry cleaning.
“We wanted to create a place where you could come and hang,” said Jason Dempsey of DP Partners.
So the company created an outdoor space for events and concerts and added restaurants and 12,000 square feet of new office space.
Around half of the redeveloped center already has tenants lined up, including Nudy’s, Bomba Tacos & Rum, Sly Fox, and NovaCare.
Read more about the changes in the Philadelphia Business Journal here.
Connect With Your Community
Subscribe to stay informed!
"*" indicates required fields