Sale of 9,100 +/- SF Retail Strip Center, Cherry Hill, NJ
Property Type: Retail
Site Size: 9,100 +/- SF
Buyer: SG Medical Mall, LLC
Seller: JSS Jeong, Inc.
Broker: Brett Davidoff, Senior Vice President
Rose Commercial Real Estate Senior Vice President, Brett Davidoff, represented both parties in the sale of JSS Plaza, a prime retail strip center in the heart of Cherry Hill, NJ. Located at 1845 Route 70 East, the 9,100 square foot property offers high exposure on the heavily traveled roadway near the intersection of I-295 and adjacent to Penn Medicine Cherry Hill. Its location and strong income producing potential were key factors in the sale, both making the property ideal for owner occupancy as well as a choice redevelopment site. The plaza was approximately 85% occupied at the time of sale with 1,200 +/- square foot of office available for lease, which Rose Commercial continues to represent. This deal, which closed late Fall 2020 for $995,000.00, follows a multitude of retail-related transactions negotiated by Adam Rose and his team.