Jones Lang LaSalle Inc.
10/13/2026 | Press release | Distributed by Public on 10/13/2026 11:52
JLL arranges record-setting sale of Wegmans-shadow-anchored shopping center in Bucks County, Pennsylvania
Key Takeaways
• Prickett Preserve achieved the highest price per square foot for any shopping center sale in the Philadelphia MSA[1].
• JLL Capital Markets arranged the sale of Prickett Preserve, a 56,252-square-foot Wegmans-shadow-anchored shopping center in Yardley, Pennsylvania.
• A joint venture between DeLuca Homes and Envision Land Use sold the recently completed property to L&B Realty Advisors LLP in a transaction that highlights strong investor demand for grocery-anchored retail.
PHILADELPHIA, Oct 13, 2026 - JLL Capital Markets announced today that it has completed the sale of Prickett Preserve, a 56,252-square-foot Wegmans-shadow anchored shopping center located at 930 Stony Hill Road in Yardley, Pennsylvania. Prickett Preserve holds the highest price per square foot for any shopping center deal ever sold in the Philadelphia MSA.
JLL represented the sellers, DeLuca Homes and Envision Land Use, in the transaction. L&B Realty Advisors LLP acquired the asset.
Completed between 2023 and 2024, Prickett Preserve is a 99%-leased neighborhood shopping center situated on 22.6 acres in Lower Makefield Township. Shadow anchored by a high-performing 90,427-square-foot Wegmans grocery store, the center features a complementary mix of food-and-beverage, medical, beauty and telecommunications tenants. Additional retailers include CVS Pharmacy, Chase Bank, Chipotle, Firebirds and Wonder.
The property serves as the retail centerpiece of the broader Prickett Preserve mixed-use development and benefits from its location near newly delivered multifamily housing, planned residential communities and nearby office developments. Strategically positioned at the interchange of Interstate 295 and Route 332, the asset provides access to major employment centers throughout Bucks County as well as Philadelphia, Trenton and Princeton. The location is surrounded by affluent residential neighborhoods and is supported by a dense consumer base with high household incomes. Nearby demand drivers include healthcare facilities, office campuses, country clubs and residential developments that continue to contribute to the area's long-term growth.
The JLL Capital Markets team was led by Senior Managing Director Jim Galbally and Senior Director JP Colussi, along with Director Patrick Higgins and Associate Brendan White.
"Prickett Preserve represented a rare opportunity to acquire a newly developed shopping center in one of the Philadelphia region's most established and affluent suburban communities," Galbally said. "Investors were attracted to the property's institutional-quality tenancy, strong daily-needs merchandising and the limited pipeline of comparable opportunities in the market."
JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
[1] Record pricing analysis is based on RCA transaction data for retail center and shop properties in the Philadelphia MSA. Parameters include individual-property sales, closed transactions and deal values exceeding $5 million.
About JLL
JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.
About DeLuca Homes
Founded in 1963, DeLuca Homes is a premier, family-owned real estate developer and builder headquartered in Southeastern Pennsylvania. With over six decades of experience, the multi-generational company has established an enduring reputation for exceptional craftsmanship, energy-efficient designs, and community-focused developments.
Operating as a highly diversified firm, DeLuca Homes excels in developing both premium residential properties-ranging from custom single-family homes to active-adult 55+ communities-and high-impact commercial projects, including retail centers and mixed-use environments across Pennsylvania and New Jersey. Guided by their core motto, "Designed For Living… Built For Life," DeLuca Homes seamlessly pairs old-world construction values with modern building techniques to create spaces that stand the test of time.
For more information, visit www.delucahomes.com
About Envision Land Use
Envision Land Use is a multifaceted real estate organization with comprehensive knowledge of the entire land development process from land acquisition, site design and development. Envision exhibits a proven ability to assess and identify the most appropriate uses for a property during any stage of development - from a single lot to a mixed use development. For more information visit www.envisionlanduse.com
About L&B Realty Advisors
Founded in 1965, L&B Realty Advisors is a SEC-registered real estate investment management firm serving institutional investors worldwide. Through customized separate account and commingled fund strategies, the firm provides investment solutions across a broad range of real estate sectors. L&B manages approximately $9.8 billion in assets comprising 27 million square feet of institutional-quality office, industrial, retail, multifamily, and specialty properties throughout the United States. Backed by more than six decades of experience, L&B delivers a fully integrated platform encompassing acquisitions, portfolio and asset management, development and construction oversight, research, and investment accounting. For more information, visit www.lbrealty.com.
Jones Lang LaSalle Inc. published this content on October 13, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 13, 2026 at 17:52 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]