Four months after purchasing the Fairless Hills Shopping Center, discount retail chain Ocean State Job Lot has sold the property’s Wawa site for $6.5 million, writes Paul Schwedelson for the Philadelphia Business Journal.
The Rhode Island-based retailer sold the parcel at 530 Lincoln Highway in Fairless Hills in an off-market deal to a private buyer.
Ocean State Job Lot acquired the 190,000-square-foot center in January for $23.6 million. The Wawa store was included in the purchase.
The Bucks County shopping center also includes a former Big Lots store, which closed after the company underwent Chapter 11 bankruptcy and sale. While 13 Big Lots locations are expected to reopen in Pennsylvania, none are in the Philadelphia region.
The new owner has not yet disclosed plans for the Big Lots space, though it said earlier in the year it was “exploring options” for the site. The space could be filled by Ocean State Job Lot, which prefers to own rather than lease its stores.
Current tenants at Fairless Hills Shopping Center include Funzilla, an indoor entertainment center, Retro Fitness, and the Big Blue Swim School.
For more details on the sale and what’s next for the Fairless Hills Shopping Center, read the full story in the Philadelphia Business Journal.
