Paramount Realty has closed on the acquisition of Greenleaf at Cheltenham, a 400,851 square foot regional grocery-anchored shopping center, located in Cheltenham, Pennsylvania. The center is defined by its unmatchable location and hosts an unparalleled lineup of national and regional tenants that include Shoprite, Target, Home Depot, Marshalls, LA Fitness, Five Below, and Old Navy. The center is also host to a unique mix of medical, service, and entertainment uses, including Oak Street Health, Philadelphia Vision, AFC Urgent Care, Humana, and kids entertainment complex, Kids Empire.

Greenleaf at Cheltenham is located at the intersection of Route 309, Cheltenham Avenue, and Washington Lane, of which has combined traffic counts of 92,000 cars per day.  In addition, there are over 230,000 people within three miles supporting average annual household incomes approaching $80,000.

There are four major universities located within a short driving distance and thousands of apartments being within walking distance to the property. Route 309 is one of the most heavily traveled roads in the metropolitan area, connecting Montgomery and Bucks County with Philadelphia. Cheltenham Avenue connects the property to Route 611 (Broad Street) which leads south straight into Center City Philadelphia. Regional access is also outstanding given Route 611 and Route 309’s interchange with the PA Turnpike (I-276) just six miles north of Greenleaf at Cheltenham, as well as the Roosevelt Boulevard (Route 1) four miles south of the Property. Linkage to the PA Turnpike creates convenient highway access to both major suburban employment areas like King of Prussia to the west and to Central New Jersey to the east. Public transportation is also available by six SEPTA Bus routes via the Cheltenham Avenue and Ogontz Avenue Loop, which sees upwards of 1.4 million riders annually.