Blue Group II, a private real estate investment fund affiliated with Hoffman United, is pleased to announce the acquisition of the Upland Square Plaza, a premier multi-tenant retail asset located within a highly trafficked retail corridor in Pottstown, Pennsylvania.
The acquisition consists of three retail spaces occupied by nationally recognized tenants: Starbucks, Aspen Dental, and Chili’s. The property is 100% leased with a weighted average remaining lease term of nearly 10 years, providing stable cash flow.
Located at the signalized intersection of Pottstown Pike (PA-100) and Upland Square Drive, the property stands at the gateway to Upland Square, one of the region’s dominant retail destinations. The center attracts approximately 4.8 million annual visits and is anchored by Target, Giant, Dick’s Sporting Goods, TJ Maxx, Ashley Furniture, Five Below, and others.
“Properties that are positioned within dominant retail corridors and leased by essential, nationaloperators aligns with our investment strategy,” said Paul Hoffman, manager of Blue Group II. “This acquisition combines durable tenancy, strong real estate fundamentals, and long-term demographic growth within one of Pennsylvania’s most attractive counties. We believe Upland Square is exceptionally well-positioned for success.”
Strategic Location Within One of Pennsylvania’s Strongest Growth Markets
The property sits within Montgomery County, consistently recognized as one of the most desirable counties in Pennsylvania.
Within a five-mile radius of the property, the market includes nearly 96,000 residents with average household incomes exceeding $102,000. Population and household growth are projected to continue over the next five years, reinforcing long-term consumer demand throughout the corridor.
The surrounding trade area is supported by numerous educational institutions, including Montgomery County Community College, Pottstown High School, and The Hill School— regarded as one of the most prestigious secondary/boarding schools in the United States. These institutions help to generate consistent daily traffic and consumer activity throughout the corridor.
The site also benefits from exceptional regional connectivity. Pottstown is located approximately 40 miles from Philadelphia, with direct access to major transportation corridors.
Positioned to Benefit from Pennsylvania’s Expanding Life Sciences Economy
The acquisition comes amid unprecedented investment in southeastern Pennsylvania’s life sciences sector.
– Eli Lilly recently announced a massive $3.5 billion investment in nearby Upper Macungie Township
– Johnson & Johnson has committed more than $1 billion to an advanced manufacturing facility in Montgomery County
– GSK and Merck maintain a strong presence in the surrounding area, driving continued investment in research and development
Collectively, these commitments reinforce southeastern Pennsylvania’s position as one of the nation’s premier pharmaceutical and biotechnology hubs, supporting local residential and commercial real estate alike.
Continuing Blue Group II’s Growth Strategy
Upland Square Plaza is Blue Group II’s third acquisition in recent weeks — joining Eastview Commons in Terre Haute, IN, and Evans Retail Center outside Augusta, GA — adding a combined $16 million in portfolio value. Blue Group II now holds assets in six markets across five states, reinforcing the fund’s disciplined approach to building a geographically diversified portfolio of necessity-based retail assets.
“We continue to seek opportunities where strong real estate fundamentals intersect with long-term economic growth,” Hoffman added. “The combination of market-leading retailers, stable tenancy, strong demographics, and continued regional investment made Upland Square an attractive addition to our already strong portfolio.”
About Hoffman United and Blue Group II
Hoffman United is a real estate investment and development company focused on creating long-term value through strategic acquisitions, development, and active asset management. Together with its affiliates, the company manages more than $125 million in residential and commercial real estate assets spanning eight states.
Blue Group II, Hoffman United’s second private real estate fund, is focused on acquiring high-quality, income-producing commercial (retail) real estate leased to nationally recognized tenants. Through an investment strategy emphasizing predictable cash flow, strong demographics, and long-term value creation, Blue Group II continues to build a portfolio of institutional-quality assets positioned to deliver risk-adjusted returns to investors.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. Any such offer will be made only through the fund’s confidential offering documents to qualified investors.
