Prickett Preserve, a 56,252-square-foot Wegmans-anchored shopping center about a mile from Ewing Township, sold this week for the highest price per square foot of any shopping center deal ever transacted in the Philadelphia MSA.
DeLuca Homes and Envision Land Use sold the property at 930 Stony Hill Road in Yardley, Penn., to L&B Realty Advisors LLP for an undisclosed price.
Completed between 2023 and 2024, Prickett Preserve is a 99%-leased neighborhood shopping center situated on 22.6 acres in Lower Makefield Township.
At the interchange of Interstate 295 and Route 332, the center features a complementary mix of food-and-beverage, medical, beauty, and telecommunications tenants. Additional retailers include CVS Pharmacy, Chase Bank, Chipotle, Firebirds, and Wonder.
Senior Managing Director Jim Galbally and Senior Director JP Colussi, along with Director Patrick Higgins and Associate Brendan White, led the transaction for NJJLL.
The property is the retail centerpiece of the broader Prickett Preserve mixed-use development. It benefits from being near newly delivered multifamily housing, planned residential communities, and nearby office developments.
The location is surrounded by affluent residential neighborhoods and is supported by a dense consumer base with high household incomes. Nearby demand drivers include healthcare facilities, office campuses, country clubs, and residential developments that continue to contribute to the area’s long-term growth.
The area is accessible to major employment centers throughout Trenton and Princeton, among other cities.
