Horvath & Tremblay closes trio of deals in Camden County

Lombardi & Nadler lead sales totaling $9.99 Million

Camden County, NJ — Horvath & Tremblay continues to strengthen its presence across Southern New Jersey with a series of retail investment sales led by Michael Lombardi and Matt Nadler.

Centrum Shoppes in Cherry Hill

Centrum Shoppes in Cherry Hill is located at 219-225 Haddonfield-Berlin Rd. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $4.97 million.

The property consists of a fully occupied, sixteen-tenant retail plaza with 25,270 s/f of space on a large 3.77-acre parcel. All of the tenants have rent increases built into their lease terms either in their base term or during their option periods, providing for a steady increase in revenue and a hedge against inflation. The property has been well maintained with the previous owner investing more than $500,000 in capital improvements over the past several years including a new façade, an elegant mansard roof, new parking lot lighting, new signage, and major tenant improvements. The property is situated less than one mile from I-295 and the NJ Tpke. Centrum Shoppes is on the border of Cherry Hill and Haddonfield, offering convenient access to Haddonfield’s unique downtown area, as well as the extensive commercial options available in Cherry Hill. Bus service is available directly in front of the property on Haddonfield-Berlin Rd., synergizing with the areas densely populated neighborhoods to provide a strong consumer base. Cherry Hill is eight miles southeast of Philadelphia and is the commercial center of Southern NJ.

Plaza 500

Horvath & Tremblay represented the seller and sourced the buyer to complete the sale of Plaza 500 in Haddon Heights for a sale price of $2.57 million.

Plaza 500 is located at 503-525 Black Horse Pike and consists of a fully occupied, nine-tenant retail plaza with 9,200 s/f of space on a 0.72-acre corner parcel. Many of the tenants have attractive annual rental increases built into their leases throughout the remainder of their terms, providing for a steady increase in revenue and a hedge against inflation. The property has been well maintained as the previous owner completed numerous capital expenditures including a brand-new roof with warranty, a newly paved a striped parking lot, and upgrades to the stores with extensive tenant buildouts and renovations. The property features excellent accessibility with six points of access and great frontage along Black Horse Pike, one of the area’s primary commercial corridors, featuring an extensive array of national tenants and major shopping centers that drive traffic and consumers to the area. The location is convenient to major highways, including I-295 and 76, offering transportation throughout NJ and the Philadelphia metro.

Plaza Shoppes

Horvath & Tremblay have completed the sale of Plaza Shoppes in Voorhees, Lombardi and Nadler represented the seller and sourced the buyer to complete the transaction at a sale price of $2.46 million.

Plaza Shoppes is located at 100-118 White Horse Rd. East in Voorhees. The property consists of a fully occupied, eight-tenant retail plaza with 10,800 s/f of space on a 1.39-acre parcel. Many of the tenants have annual rental increases built into their leases, throughout both the base terms and any option periods. The property has been well maintained as the previous owner invested more than $750,000 in capital improvements over the past several years including: a new façade, partial new flat roof, new mansard roof, new rear parking lot, new sidewalks, new exterior LED parking lot lights, new signage, a new dumpster enclosure and fencing, a new HVAC system, and electrical upgrades (re-wiring, electrical panels, and meter bank). The property is located along White Horse Rd. in the Echelon neighborhood of Voorhees Twp.