14B — July 14 - 27, 2017 — Southern New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
S outhern N ew J ersey
Berlinsky and Burns negotiate sale of 19,770 s/f retail center Delanco MarkeimChalmers negotiates the sale of 40,000 s/f office building in Cherry Hill, NJ for $2.9 million C
herry Hill, NJ — Markeim Chalmers, Inc., a commercial real estate, appraisal and prop- erty management firm in the Philadelphia Metropolitan Area, negotiated the sale of 1101 Kings Highway N in Cherry Hill, representing both 1101 N Kings Highway LLC (buyer) and 1101 Asso- ciates LLC (seller). The four- story 40,000 s/f multi-tenant office building is 100% occu- pied and the new local private investing owner has plans to renovate the site’s com- mon areas. The sale, which
1101 Kings Highway N
Camp Meeting Center
was coordinated by Kevin Burns , senior vice president of Markeim, closed on June 30, 2017 for $2,900,000. In a second transaction, Markeim Chalmers repre- sented both parties in the sale of Camp Meeting Cen- ter, the downtown commer- cial property located at 801 Burlington Ave. in Delanco. Anchored by Dunkin Do- nuts, U.S. Post Office and 7-11 Convenience Store, the 19,770 s/f retail center is 100% occupied and was sold by Markeim within 60 days of exposure to the market. Fred Berlinsky , president and Burns negotiated the sale between a prominent regional real estate company (seller) and a private 1031 investor (buyer), which closed at a cap rate of 9%. “We take pride in achieving the goals for both the buyer and seller with a quick sale at a fair price. All sides of the transaction walked away satisfied,” said Berlinsky. PHOTO ATTACHED : “NJAA Executive Director David Brogan Receives As- sociation Executive of the Year Award from National Apartment Association” In Pennsauken, Markeim Chalmers senior associ- ate Adam Dembo repre- sented Suckle Properties, LLC (seller) in the sale of 1395 Suckle Highway in Pennsauken. The 37,215 s/f industrial building sits on 1.71 acres and was eligible for the Grow NJ Program. It was sold to 153 Suckle Highway, LLC and closed on June 19, 2017 for the sale price of $1.2 million. Markeim Chalmers, Inc. is a full-service commercial real estate firm located in Cherry Hill, led by Fred Berlinsky, Esq., president. n
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