Ron Mahr, senior vice president of Weichert CommercialBrokerage, represented the seller--the Hazard Reeves FamilyTrust--in the transaction. "We are very pleased to have sold thisfacility and be awarded the exclusive assignment to market a newretail center," he says. "The new retail center offers an excellentopportunity for tenants looking to prosper at a thriving locationwith high visibility located right off Route 17. We anticipate agreat demand."

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Mahr notes that the property had been under contract for about ayear while Lantini sought municipal approvals for the retailconversion of the project. The Duck Cedar Inn was at one time avery popular destination but fell on hard times in recent years.The restaurant closed two-and-a-half years ago after more than 45years in business.

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"The new owner plans to put significant dollars in improvementsto the property," Mahr says. Tenants could begin taking occupancyof space at the property by the fall of this year.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.