United Hampshire US REIT acquires Dover Marketplace for $21.1m

This is UHREIT’s third acquisition in Pennsylvania.

United Hampshire US REIT (UHREIT) has completed the acquisition of Dover Marketplace, a freehold grocery-anchored retail property in Dover, Pennsylvania, for $21.1m (US$16.4m).

The purchase price is 4.8% below the property's independent valuation of $22.2m (US$17.2m).

The anchor tenant is The GIANT Company, a leading supermarket operator in the U.S. Mid-Atlantic region.

GIANT has been the anchor tenant for nearly 25 years and holds a long-term lease. The 61,044 sq ft shopping center is 96.1% occupied and has a weighted average lease expiry (WALE) of 9.7 years. Other tenants include M&T Bank and Subway.

This is UHREIT’s third acquisition in Pennsylvania and was fully funded by proceeds from the divestment of Albany Supermarket, completed in Q1 2025.

CEO Gerard Yuen said the acquisition supports UHREIT’s capital recycling strategy and strengthens its income-generating portfolio.

Dover Marketplace is expected to boost our DPU by 2.0%, from $0.0509 to $0.0520 (US$0.0395 to US$0.0403) on a pro forma FY2024 basis, the group said.

The property is located at the intersection of Carlisle Road and Palomino Road in York County, with strong access to major roadways in the region.