Wegmans-anchored Providence Town Center in Collegeville hit the market again just two years after it was last traded, writes Paul Schwedelson for the Philadelphia Business Journal.

The 760,000-square-foot open-air retail property was purchased by a joint venture of Bethesda, Finmarc Management, and KPR Centers in 2022 for $162 million.

The shopping center sits on 82 acres off Route 422 and Route 29, not far from the office and life sciences campus that houses Dow.

When it was acquired two years ago, the property was 92 percent occupied. According to marketing materials from JLL, which has the listing, its occupancy is now at 97 percent.

The center was developed in the late 2000s by Berwyn-based Brandolini and sold to Finmarc and KPR Centers. When it was acquired in 2022, the new owners planned to upgrade the shopping center and make it more pedestrian-friendly.

“The center was designed and thought up 15 years ago and when we look at centers, we look for ways to improve them, consumer activation, and how to make the customer experience better,” said Finmarc Principal, Neil Markus, at the time.

Read more about the Providence Town Center in the Philadelphia Business Journal.