X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CAMDEN COUNTY, NJ-Grocery wholesaler/retailer SuperValue has sold a portfolio of five retail properties, all in this South Jersey county, to unidentified private investors and locally based partnerships. Aggregate value of the sell-off was “more than $9 million” for a total of 220,000 sf of assets, according to Kevin McClernon, a CB Richard Ellis first vice president.

McClernon, along with vice presidents Patrick J. McCabe and George P. Schmitt of CBRE’s Delaware Valley retail brokerage practice, arranged the separate deals as sole agents for all of the sale agreements. No further financial details were disclosed.

The properties involved, according to McClernon, were Blackwood Shopping Center, a 50,000-sf asset in Blackwood; Atco Plaza, a 50,000-sf shopping center in Atco; and Plaza 70 in Cherry Hill. Also sold were the freestanding 30,000-sf Bottino’s Supermarket in Washington Twp.; and the Price Slashers building in Pitman.

“Each property presented unique challenges to structuring and concluding a sale,” according to McClernon. “The buyers were private investors, specific users and those seeking 1031 tax-deferred exchanges.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.