MARLTON, NJ—Greentree Square, a 110,000square-foot center at 940 Route 73 in thisBurlington County bedroom community about 15 miles east ofPhiladelphia, hosts one of Whole Foods Market's 18New Jersey grocery store locations in the 92-percent occupiedcenter.
With Amazon's acquisition of the chain,announced in June and completed in August 2017, the online retaileris likely to create new competitive pressures on grocery anchoredneighborhood centers around the Garden State, according toRichard Kalvoda, senior executive vice president,advisory, of Altus Group, a commercial real estateanalytics, valuation, and consulting firm. Kalvodafocuses on real estate valuation for retail, office, industrial,and multifamily properties.
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