SICKLERVILLE, NJ-Wheeler Real Estate Investment Trust of Virginia Beach, VA has acquired the Winslow Plaza shopping center here for approximately $6.6 million.
The deal for the nearly 41,000-square-foot retail property comes to $162 per-square-foot. Wheeler officials say the property was acquired using a combination of cash and debt.
The property at Berlin-Cross Keys Road is 91% leased and occupied by 16 retail and restaurant tenants that include Novacare, Allstate, UPS and Benjamin Moore. The property is anchored by King's Liquor Outlet and shadow-anchored by a Shoprite Supermarket.
Jon S. Wheeler, chairman and CEO of Wheeler Real Estate, stated, “With the acquisition of Winslow Plaza, we have reached a significant milestone of over one million square feet of gross leasable area in our property portfolio. This acquisition also marks the beginning of the Company's geographic entrance in the state of New Jersey. I am very proud of these accomplishments and greatly value the relationships that our company has established.” Wheeler Real Estate was founded in June 2011.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
