An entity owned by Nandish Patel, founder of Langhorne’s Phoenix Nexus Enterprises, recently bought Feasterville Plaza for $18.5 million, writes Paul Schwedelson for the Philadelphia Business Journal. 

The sale price for the 110,000-square-foot shopping center in Feasterville was 8 percent lower than the last time the property traded hands in 2011. 

The property was previously owned by FTP Feasterville Plaza, which it acquired from Federal Realty Trust for $20 million. 

Feasterville Plaza covers over 12 acres on the northeast corner of Street Road and Bustleton Pike. It is currently fully occupied, with grocery store Bell’s Market, Altitude Trampoline Park, and Hollywood Tans among its tenants. 

Patel’s Phoenix Nexus Enterprises operates quick-serve restaurants in the Philadelphia region. The company acquired the Factory Donuts brand four years ago and rebranded it Factory Donuts Coffee’ N Chicken. 

Phoenix Nexus is based in One Summit Square in Langhorne. In 2019, an affiliate of the company bought the four-story, 67,000-square-foot office building for $9 million. 

Read more about Phoenix Nexus Enterprises’ acquisition of the Feasterville Plaza in the Philadelphia Business Journal. 

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