WP Realty acquires Mayfair Shopping Center

WP Realty has acquired Mayfair Shopping Center which is located along highly travelled Frankford Ave. (42,000 vehicles per day) in a densely populated pedestrian friendly neighborhood in northeast Philadelphia. The area enjoys easy access to the entire greater Philadelphia area via mass transit bus lines which routinely stop within walking distance to the center. The center has excellent visibility along Frankford Ave, and Hellerman St. and is strategically located in this close-in bedroom community to draw consumer traffic from the local neighborhood. Over 50,000 people live within one mile of the center. Mayfair Shopping Center is a single-story 115,411 s/f community shopping center comprised of four buildings including one bank pad (Wachovia). The center is arranged around a central parking field with ingress and egress to Frankford Ave., Levick St., and Hellerman St. The shopping center is anchored by national and regional retailers including Shop 'n Bag, Dollar Tree, and Fashion Bug. In-line retail tenants include a mix of national, regional, and local tenants including GameStop, Radio Shack, Foot Locker, Payless, and Hallmark. Mayfair Shopping Center is currently 86% occupied with 16,339 s/f of available retail space.