A joint venture involving Abrams Realty & Development of Elkins Park and Onyx Equities of Woodbridge, N.J., have bought the Penrose Plaza Shopping Center in Southwest Philadelphia from a Korman Commercial Properties subsidiary for $25 million.

The new owners plan to expand and remodel the ShopRite supermarket at the 263,000-square-foot shopping center, located in the city’s Eastwick section, Abrams managing partner Peter Abrams said Tuesday.

Abrams said he also was negotiating with potential new tenants for the former location of a 95,000-square-foot Kmart store there.