Hunting Park Retail Center Sells for More Than $50M

Bakers Centre, a 236,719-square-foot shopping center that transformed a property where Tasty Baking Co. once churned out Krimpets, KandyKakes and Dreamies, has sold for $52.4 million.

Raider Hill Advisors, a private real estate investment and advisory firm located in New York, bought the property at 2800 Fox St. in Philadelphia with the intention of holding it over the long term, said Chris Munley, who, along with colleagues Michael DiCosimo and Jose Cruz of Holliday Fenoglio Fowler, arranged the transaction. The seller was a partnership involving Metro Development Co., Carlino Commercial Development and U.S. Realty Associates Inc.

Just before Christmas 2016, Freddie’s kidneys failed and now he spends three days a week at Alfred I. DuPont Hospital on dialysis. On Friday, he threw out the first pitch at the Phillies’ Home Opener in front of 45,000 people.

Metro Development bought the former Tasty Cake property, which totals 27.4 acres, for $6 million in 2010 with plans to construct a retail center. Between 2011 and 2015, it built out Bakers Center and among its anchors are ShopRite, Ross Dress for Less and Planet Fitness. At the time of the sale, there was a 10,000-square-foot vacancy.

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