The Highland Development Group Ltd. purchased a 40,000-square-foot shopping center located at Old York and Church Roads in the Cheltenham Township of Elkins Park, PA. Paul French of Binswanger/CBB negotiated the transaction on behalf of the seller for $3 million, or $75 per square foot. The property is comprised of 26 retail shops, the historic Yorktown Inn restaurant and the former Elkins Park Post Office, on 7 acres of land. The Highland Development Group plans to fashionably transform the property into a colonial-style neighborhood-shopping village. Walgreens, the national retail pharmacy chain, will serve as the anchor tenant for the revitalized shopping center. The Yorktown Inn currently remains in operation, however, future plans for the restaurant have yet to be determined.