Markeim Chalmers negotiates $2.55m sale of Cherry Hill Landmark Coastline Restaurant
Cherry Hill, NJ — Markeim Chalmers, Inc., a commercial real estate, appraisals and property management firm in the Philadelphia Metropolitan Area, announced the following transaction in Cherry Hill.
Markeim Chalmers represented both buyers in the sale of the Coastline Restaurant and its liquor license. Located at 124 Brace Rd., the Cherry Hill landmark which sits on 3+ acres of prime real estate was purchased by Cherry Hill MC Real Estate LLC for $2.55 million. They will develop a 64-bed assisted living facility. The Coastline liquor license was sold separately to Woodcrest LLC for $1.05 million and will be used at the Woodcrest Country Club in Cherry Hill. Both sales closed on February 5, 2016 for a total of 3.6 million.