One of Lansdale’s most recognizable shopping destinations is on the market, with a price tag of around $55 million, writes Paul Schwedelson for The Philadelphia Business Journal.
Water Tower Square, a fully occupied 269,000-square-foot retail center on Horsham Road, has been listed for sale. Blue Bell-based Goldenberg Group developed the property and has owned it since 1992.
The center’s anchor tenants, Home Depot, Sprouts Farmers Market, and Planet Fitness, represent three of the most sought-after retail categories for investment properties. Home Depot alone occupies 143,000 square feet.
Bob’s Discount Furniture, Cost Plus World Market, and a Miller’s Ale House outparcel round out the offering.
The listing also includes a fresh long-term tenant. Maryland-based Flagship Cinemas signed a 10-year lease in 2025. The theater replaced the former Water Tower Cinema, filling the 34,000-square-foot theater space.
CBRE’s Chris Munley, who holds the listing, called the Five Points location “irreplaceable.” Comparable sales support the optimism. Havertown’s Quarry Center sold for $81 million in 2025. Developers also point to a regional appetite for grocery- and home improvement-anchored centers.
Goldenberg Group declined to comment on the decision to sell.
To learn more about Lansdale’s Water Tower Square listing, visit The Philadelphia Business Journal.
