J.G. Petrucci Company Acquires 20,000-SF Retail Center in Willow Grove, PA in Long-Term Redevelopment Play

J.G. Petrucci Company has acquired a 20,000-square-foot retail shopping center on Old York Road in Willow Grove, Pennsylvania, the firm announced Aug. 24. The transaction was facilitated by Pat McCabe with Equity CRE. No sale price was disclosed.

The acquisition expands J.G. Petrucci Company's existing Montgomery County portfolio, which spans multi-family, commercial, industrial, and retail properties. The shopping center is currently occupied by six retail tenants and features ample customer parking, with easy access to nearby retail destinations including the Willow Grove Park Mall, Wawa, GIANT, and Marshalls.

Redevelopment Vision Tied to Adjacent Mixed-Use Asset

The newly acquired property sits directly adjacent to The Station at Willow Grove, a Petrucci-owned mixed-use development at 91 North York Road. That four-story project comprises 285 luxury apartment units, structured parking, ground-floor retail space, and 20,000 square feet of medical office space leased to Jefferson Health. The Station at Willow Grove also offers direct access to SEPTA services and proximity to the Pennsylvania Turnpike, Route 611, and Route 309.

Greg Rogerson, Principal at J.G. Petrucci, described the acquisition as a long-horizon play rather than a near-term income investment. "We eye this acquisition for long-term redevelopment to complement The Station at Willow Grove," Rogerson said. "The redevelopment will be consistent with the existing Town Center District zoning and will be in collaboration with all the stakeholders, including Upper Moreland Township, SEPTA, and Montgomery County."

Strategic Assemblage in a Reinvesting Submarket

The purchase extends J.G. Petrucci Company's footprint around The Station at Willow Grove, giving the firm control over a larger portion of the immediate trade area and creating optionality for a future redevelopment program aligned with Town Center District zoning guidelines. The strategy reflects a broader transit-oriented, mixed-use infill thesis that Petrucci has already executed next door, combining housing, retail, and medical office near SEPTA's Warminster Station.

Willow Grove has been attracting significant reinvestment in recent years. The Willow Grove Shopping Center at 122 Park Avenue is being repositioned into a mixed-use project with approximately 261 apartments and 35,000 square feet of retail under a reported $105 million redevelopment plan, adding competitive density to the submarket's town center corridor.

Equity CRE Facilitates Transaction

Equity CRE's Pat McCabe facilitated the transaction. Financial terms, including the acquisition price, cap rate, and loan details, were not disclosed.

J.G. Petrucci Company is a New Jersey and Pennsylvania-based development and design/build organization. With this acquisition, the firm's Montgomery County holdings now include the retail center on Old York Road alongside The Station at Willow Grove and other multi-family, commercial, and industrial assets in the region.