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February 05, 2020  

Philadelphia Shopping Center in Play

A shopping center in Northeast Philadelphia is on the block with an estimated value of $81 million.The 500,000-square-foot Northeast Tower Center, at 4640 Roosevelt Boulevard, is 99% leased. A sale at the anticipated price would produce an initial annual yield in the vicinity of 5.75%. Marcus & Millichap’s Institutional Property Advisors unit is marketing the property for Paramount Realty Services of Lakewood, N.J.The shopping center is...

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