WP Realty sells the 89,000 s/f Devon Village

WP Realty has completed the sale of Devon Village to a subsidiary of Kimco Realty Corp. Devon Village is an 89,000 s/f shopping center anchored by a newly expanded and renovated Whole Foods. The center is situated on Lancaster Ave. (Rte. 30), a busy retail corridor and popular shopping destination. WP Realty purchased Devon Village in September 2009. Since then, WP Realty has utilized its strong relationships and expertise in leasing, development and management to solidify all tenancies and expand the center by 20,000 s/f In addition to orchestrating a lease amendment with Whole Foods whereby Whole Foods expanded the size of their store and extended their lease, WP Realty leased the expansion space to a mix of national, regional, and local tenants including AAA Mid Atlantic, Beneficial Bank, Starbucks, Devon Nails and Spa, and Avero. WP Realty was also instrumental in the relocation and expansion of both Wine & Liquors and Prestige Salon. WP Realty is a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Penn., The principals of WP Realty have extensive expertise in leasing and entrepreneurial management and turning underperforming centers around.