A fully-leased Radnor retail center across from Radnor High School that is home to restaurants Estia, Pietro’s, Honeygrow, and Buena Onda was sold by Brandywine Realty Trust for $14.2 million, writes Paul Schwedelson for Philadelphia Business Journal.

The center at 200 N. Radnor Chester Road was purchased by an undisclosed New York private investor.  The price paid reflects investor interest in the property.

“With very few shopping centers ever coming available for sale on the Main Line of Philadelphia, market interest was incredibly high with pricing reflecting a scarcity premium from the high-quality nature of the real estate,” said Chris Munley, one of the representatives from Philadelphia-based Brandywine Realty in the sale.

The 17,884-square-foot property was built by Brandywine in 2014. The tenants have an average tenure there of 7.5 years.

The property is part of Brandywine’s Radnor Financial Center. It is close to Penn Medicine Radnor, an outpatient care facility that opened in 2020, as well as Villanova University. 

JLL Capital Markets represented Brandywine Realty Trust in the sale. Others participating from Brandywine Realty included JLL’s Jim Galbally, Colin Behr, James Graf, and Patrick Higgins.

Find out more about this Radnor retail center sale in the Philadelphia Business Journal.

Check out the refurbishment of 250 Radnor, a Brandywine Realty Trust building project in Radnor Township.