M id A tlantic Real Estate Journal — Southern New Jersey — April 2023 — 9B
www.marej.com
S outhern N ew J ersey
Nathanson arranges 1031-exchange transaction on behalf of the seller & original developer Marcus & Millichap brokers $36.5 Million sale of shopping center in Marlton, NJ
M
ARLTON, NJ — Marcus & Millic- hap’s Institutional
Property Advisors (IPA) has b r oke r ed the sale of The View at Marlton, a 91,000 s/f shopp i ng center lo-
Brad Nathanson
cated in Marlton, roughly 18 miles east of downtown Philadelphia. Paramount Realty Services acquired the property, which was 98 per- cent occupied at the time of sale, for $36.5 million. Brad Nathanson of IPA arranged the 1031-exchange transac- tion on behalf of the seller and original developer, a partner- ship between Abrams Realty & Development and Lazgor Co. Tenants at the property include LA Fitness, AAA, The Malvern School, Truist Finan- cial Corp., Rooster’s, Belle Palace, Euro Wax, Restore Cryotherapy, Cherry Blow Dry Bar, Dunkin’ Donuts, Naf Naf, Bistro di Marino and Smoothie King. In other news, IPA closed the sale of Groton Sq., a 196,802 s/f, grocery-anchored shopping center. “Groton Sq. is anchored by the No. 1-ranked Kohl’s and the No. 2 Stop & Shop within 30 miles,” said Jim Koury , IPA senior managing director. “The tenants have anchored the center for 22 and 35 years, respectively.” Koury both represented the seller and procured the buyer. Groton Sq. is located on Connecticut Rte. 12. The Na- val Submarine Base in New London is two miles away and the University of Connecticut Avery Point is nearby. Major employers in Groton include Pfizer, and General Dynamics. Groton Sq.’s tenants also include Panera, Xfinity, Phy- sicianOne Urgent Care, Cos- moProf, Verizon and Moe’s Southwest Grill. Institutional Property Advi- sors is a division of Marcus & Millichap, a leading CRE ser- vices firm in North America. IPA’s expertise, industry-lead- ing technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. MAREJ
The View at Marlton
EXPLORE THE HAINES CENTER BURLINGTON / FLORENCE, NJ
The Haines Center offers direct immediate access to NJ Turnpike Exit 6A and the PA Turnpike connector. Onsite public transportation servicing the campus includes NJ Transit bus line stops, a NJ Transit RiverLine commuter rail station, and county shuttle transfer service from rail/bus stops to destinations within the Haines Center.
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