10A — March 2025 — Retail Development — M id A tlantic Real Estate Journal
www.marej.com
R etail D evelopment
DiFranco & Lombardi represent both parties Horvath & Tremblay sells Raising Cane’s in Glassboro
Mixed-use center rises in Middletown, DE Blenheim Group breaks ground on Weis Markets
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LASSBORO, NJ — Rob DiFranco and Michael Lombardi
of Horvath & Trem- blay have successfully completed the sale of a Raising Cane’s in Glassboro, New Jersey. Horvath & Tremb l ay exclusively represented the seller and procured the buyer to complete the transaction at a sale
Rob DiFranco
Bayberry Town Center
Raising Cane’s in Glassboro, NJ
throughout the primary lease term and at the start of each renewal option. Raising Cane’s is extremely well located along Delsea Dr. N, the region’s pri- mary retail corridor. Situated at the signalized intersection of Delsea Dr. N and Donald Barg- er Blvd., the property enjoys outstanding visibility, frontage and access and is 1-mile from US Rte. 322, and 2.4-miles from the Jersey Freeway (NJ Rte. 55). Additionally, Raising Cane’s shares the intersection with Doubletree Shopping
Center (ALDI anchored) and College town Shopping Center (Lidl & Esporta anchored), the two largest retail centers in the area. The property is part of a dominant trade area that is home to countless national re- tailers and restaurants, Rowan University, Inspira Medical Center Mullica Hill, all of which drive traffic to the area. Additionally, the property is surrounded by densely popu- lated residential neighborhoods providing a built-in customer base. MAREJ
Michael Lombardi
price of $3.75 million which represents a 4.80% Cap Rate. The new construction Rais- ing Cane’s is located at 695 Delsea Dr. N in Glassboro, and consists of a 3,026 s/f build- ing with a drive thru. Raising Cane’s has a new 15-year Abso- lute NNN Ground Lease with five, five-year renewal options. The lease calls for attractive rent increases every five years OWINGS MILLS, MD –— Neuman Commercial Group, LLC has arranged the sale of Midtown Marketplace, a 39,000 s/f shopping center located at 2008 Maryland Ave., Balti- more. The property sold for $5.8 million. Anchored by original Save-A-Lot grocery in place since construction in 1998, the center was 100% occupied at the time of the sale, including national tenants Advance Auto and Dunkin Donuts. Neuman Commercial Group led by prin- cipal Gil Neuman represented the seller and original owner, Klein Enterprises , and pro- cured the buyer, a New York based private investor. MAREJ MARLTON, NJ — After 40 years as a South Jersey land- mark, the former Mexican Food Factory property has been sold. Alan Sussman of A.J. Suss- man Company represented the buyer in the purchase of the 1.2-acre site at 601 Route 70 W, Marlton.The seller was rep- resented by Richard Freed- man, Esq. MAREJ
Weis Markets rendering
MIDDLETOWN, DE — Blenheim Group announced that construction has started on Weis Markets at Bayberry Town Center, a highly an- ticipated 280,000 s/f mixed-use retail destination in north Middletown. The 64,000 s/f store will be Weis Markets’ fourth store in Delaware and its first ground- up development in the state. It will feature Weis Markets’ lat- est in innovative store design, including expansive fresh de- partments, a pharmacy, a gro- cery department with excellent variety, as well as a Weis Gas N’ Go fuel center. Customers will be able to order groceries online with the option of home delivery or in-store pick-up. Both the grocery store and the fuel center are projected to open Q4 2025. “It is great to get started,” said Weis Markets chairman, CEO and president Jonathan Weis . “When completed, our new Bayberry store will offer a strong combination of qual- ity, value and convenience. We look forward to serving the Village of Bayberry and the surrounding communities.” The Bayberry Town Center project is gaining significant momentum, with a strong line- up of national and local tenants wanting to establish a presence in this growing trade area. Chi- potle, McDonald’s, and Bloom Nail Salon have signed leases. Blenheim Group is in negotia- tions with Chase Bank, Wing- stop, UPS, Great Clips, and
Verizon to finalize their leases. Additional first-class retailers, restaurants, and service provid- ers are in active discussions to secure space. The first buildings will begin construction this spring, with grand openings expected between fall 2025 and spring 2026. To celebrate the start of con- struction of this premier retail destination, a groundbreaking ceremony is planned at Bay- berry Town Center this spring. Date and time to be announced. “With this mix of nationally and locally known tenants, Bayberry Town Center will be a dynamic retail destina- tion with convenient access to essential offerings for the com- munity,” said Jay Sonecha , president of Blenheim Group. “We’re thrilled these tenants have chosen Bayberry Town Center for their next locations and look forward to celebrat- ing our groundbreaking.” Once complete, Bayberry Town Center will be a vibrant gathering place designed to complement the Village of Bay- berry, a thriving, rapidly grow- ing master-planned commu- nity developed by the Blenheim Group. The center will feature: • Seamless connectivity: in - ternal streets and trails link over 3,000 homes directly to the center • 145 townhomes integrated into the center •Two beautiful green spaces for community programming MAREJ
Neuman Commercial Group arranges the sale of Midtown Marketplace in Baltimore, MD for $5.8M
Midtown Marketplace
A.J. Sussman Company negotiates sale of former landmark restaurant in Marlton, NJ for $2.3 Million
601 Route 70 W
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