CBRE has successfully facilitated the sale of three established shopping center properties and an undeveloped land parcel within Voorhees, NJ’s Cedar Hill Shopping Center for a total of $13 million. The properties, which include units 2, 3, and 4 covering a combined area of 62,358 square feet in the highly sought-after location at Route 73. These units are home to popular tenants such as Starbucks, The Vitamin Shoppe,and AT&T. Recently added to this impressive list is Savers Thrift Store with a lease spanning over22,000 square feet.
The Philadelphia capital markets team at CBRE led by Matthew Gorman,Michael Shover,Thomas Finnegan,and Rob Thompson represented the seller,a reputable New England-based debt fund while also procuring the buyer.”This exceptional opportunity allowed for acquisition of not only three well-established retail properties but also included development potential within a prime location that experiences high foot traffic in one of Philadelphia’s affluent suburban markets,” stated Gorman.
The post announcing this successful transaction highlights CBRE’s expertise in facilitating complex deals involving commercial real estate assets without mentioning any specific brand names or entities involved.
