The buyer was Gloucester 42 Associates, a local group, which was represented in the transaction by the Mt. Holly-based Terra Associates. The seller, represented by Bill Goodwin, a senior vice president of CB Richard Ellis in Philadelphia, was Jarnap Co. Inc.-Unitrust, an entity of the John A. Robbins Co.
The site, which fronts on the Route 42 expressway and three other arterial highways in this South Jersey community, "is generally flat to moderately sloping terrain and is partially forested," Goodwin says. "The un-forested area was previously used for agricultural purposes."
While specifically plans haven't been released yet, the new owner has mixed-uses in mind. Specific plans are expected "to be announced in the near future," according to Goodwin.
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