Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TURNERSVILLE, NJ-Peppercorn Plaza, a 22,930-sf shopping strip at 5501 Black Horse Pike or Route 42 in this South Jersey community, has been sold for $4 million. That sale price factors out to just less than $174.50 per sf, and the cap rate was nearly 6.6%, according to brokers from Marcus & Millichap’s Philadelphia office, who orchestrated the deal. The buyer and seller are investor groups that were not identified.

Constructed in 1986, the property was extensively renovated in 2005 by its now-former owner. The upgrade included new facades and signage, as well as lighting and parking area improvements.

Peppercorn Plaza was 85% occupied at the time of sale, with three slots totaling 3,400 sf available for lease. Current tenants include its largest, Sherwin-Williams, with about 5,700 sf, and Quiznos.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2020 ALM Media Properties, LLC. All Rights Reserved.