NEW YORK (BUSINESS WIRE) - ShopOne Centers REIT Inc. (“ShopOne”), in collaboration with its joint venture partners Pantheon and a leading global institutional investor, announces the acquisition of two open-air retail shopping centers in Pennsylvania: Goodnoe’s Corner in Newtown, PA, and Village Center in Bensalem, PA.

“We are excited to expand our presence in the Philadelphia market with these high-quality assets,” said Chris Reed, CEO of ShopOne. “These acquisitions align with our strategy of investing in well-located, grocery-anchored and convenience-oriented centers that serve as essential retail destinations within their communities.”

Village Center, anchored by ACME, spans 87,705 SF and is strategically positioned along major commuter routes in Bensalem, PA, within Bucks County and the Philadelphia MSA. With prominent tenants like ACME and Wells Fargo, Village Center has proven to be a resilient, long-term asset for the community. Located less than 5 miles from Philadelphia, the center is surrounded by a densely populated suburban area with a favorable average household income exceeding $116,000 within 3 miles.

Goodnoe’s Corner is a fully leased, 34,660 SF neighborhood center featuring necessity and convenience-based service tenants located in the affluent Newtown submarket of the Philadelphia MSA, this center boasts a diverse mix of regional and local tenants, enhancing the center’s overall strength.

The acquisition of Goodnoe’s Corner and Village Center brings the total number of shopping centers in the JV’s portfolio to 20, encompassing more than 2.0 million square feet. This expansion reflects ShopOne's commitment to growing its footprint in key markets and enhancing the value of its portfolio through strategic acquisitions and active asset management.

About ShopOne

ShopOne Centers is a fully integrated investment, management and operating platform focused exclusively on designing and executing strategies in U.S. grocery-anchored neighborhood shopping centers through joint venture partnerships with institutional investor clients. The Company’s retail centers are located in established trade areas and are supported by a diverse mix of non-discretionary, value-oriented and grocery retailers. ShopOne is committed to maximizing the value of its portfolio by capitalizing on embedded growth opportunities through driving rents, increasing occupancy and pursuing value-enhancing redevelopment opportunities. To learn more about ShopOne, please visit ShopOne.com.

About Pantheon

Pantheon has been at the forefront of private markets investing for more than 40 years, earning a reputation for providing innovative solutions covering the full lifecycle of investments, from primary fund commitments to co-investments and secondary purchases, across private equity, real assets and private credit.

We have partnered with more than 1,000 clients, including institutional investors of all sizes as well as a growing number of private wealth advisers and investors, with approximately $71bn in discretionary assets under management (as of December 31, 2024).

Leveraging our specialized experience and global team of professionals across Europe, the Americas and Asia, we invest with purpose and lead with expertise to build secure financial futures.