Water Tower Square in Montgomeryville has been sold to Pittsburgh-based Echo Realty and San Francisco-based TPG, The Philadelphia Business Journal reported.

The 269,000 sf shopping center located at 751 Horsham Road was projected to sell for around $55 million when it hit the market in May, The Journal said. The property’s biggest tenants, Home Depot and Sprouts Farmers Market, were an attractive selling point to prospective investors. 

The sale price was not disclosed. Goldenberg Group of Blue Bell owned the property since 1992.

Photo: CBRE