A Phoenixville shopping center sold for more than $7 million
The complex, shadow-anchored by a corporately owned Acme, is less than a mile from the Chester County borough's bustling downtown.
A fully occupied shopping center near downtown Phoenixville recently sold for nearly $7.4 million.
Chester County property records show that the 33,000-square-foot complex was sold in late November by one private investor based in Malvern to another based in Glen Mills, with both registered as limited liability companies. The sale was first reported Thursday by the Philadelphia Business Journal.
Located at 785 Starr St., the center is about a mile down the road from Phoenixville’s main drag. It is shadow-anchored by a corporately owned Acme, according to Marcus & Millichap, the firm that represented the seller. The Acme is connected to the rest of the shopping center — and drives traffic to other stores — but was not included in the sale.
The center’s other tenants include Benchmark Federal Credit Union, Habitat for Humanity ReStore thrift store, Fresenius Kidney Care, Labcorp, NovaCare Rehabilitation, and State Farm. It also has a martial arts gym, a dry cleaner, and several quick-service restaurants.
“This closing highlights the strength of essential-service tenants, 100% occupancy, and strong tenant performance,” Scott Woodard, senior director of investments for Marcus & Millichap, said in a statement. “Phoenixville’s expected population growth and proximity to major anchors, such as Acme, made this center a standout asset with long-term stability.”
Woodard represented the seller alongside Derrick Dougherty, senior managing director of investments.
The shopping center sits on 3.7 acres, near the corner of Nutt Road and Starr Street, and was built in 2007. According to Chester County property records, it previously sold for $6.35 million in 2018.
Prior to that, the property had last changed hands in 2006, when the land was purchased for $325,000, according to the records.
Phoenixville, a once-dilapidated former steel town, has experienced a rebirth over the past two decades.
Its restaurant and bar scene has flourished, and Bridge Street is bustling, especially on the weekends. Luxury apartment complexes have attracted both millennials and empty nesters to the quaint 3.8-square-mile borough.
» READ MORE: Phoenixville has turned into a destination, but some locals don’t like what it’s become
Since the pandemic, Phoenixville has continued to grow: Its population increased 9% between 2020 and 2024, according to census data.
In 2010, it was home to roughly 16,000 people. Today, that number is estimated to be more than 20,000.
The Acme shopping center sits just inside the bounds of Phoenixville, near its border with Schuylkill Township and not far from Valley Forge National Historic Park.
The Phoenixville center’s sale occurred around the same time that grocer Jeff Brown bought a 98,000-square-foot Northeast Philadelphia complex, anchored by one of his ShopRites, for $30.8 million.