Echo Realty and TPG Buy Montgomeryville's Water Tower Square for Undisclosed Price
The Water Tower Square retail center in Montgomeryville has been sold to Echo Realty and TPG. The 269,000-square-foot property, anchored by Home Depot, Sprouts Farmers Market, and Flagship Cinemas, had been on the market since May with an expected sale price of around $55 million.
The sale comes after a year of new investment at the property, including the opening of Sprouts Farmers Market in 2025 and the signing of a 10-year lease by Flagship Cinemas. The movie theater space underwent $1.5 million in phased renovations, which included new heated recliners.
Echo Realty and TPG acquired Water Tower Square from Goldenberg Group, which had owned the property since 1992. Home Depot remains the anchor tenant at the center, occupying approximately 143,000 square feet. Other tenants include Planet Fitness and Miller's Ale House.