10B — October 14 - 27, 2016 — Southern New Jersey — M id A tlantic
Real Estate Journal
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S outhern N ew J ersey Over three acres was purchased by Cherry Hill MC Real Estate LLC Markeim Chalmers negotiates $2.55m sale of Cherry Hill Landmark Coastline Restaurant
HERRY HILL, NJ — Markeim Chalmers, Inc. , a commercial real estate, appraisals and property management firm in the Philadelphia Metropolitan Area, announced the following transaction in Cherry Hill. Markeim Chalmers repre- sented both buyers in the sale of the Coastline Restaurant and its liquor license. Located at 124 Brace Rd., the Cherry Hill landmark which sits on 3+ acres of prime real estate was purchased by Cherry Hill MC Real Estate LLC for $2.55 million. They will de- C
velop a 64-bed assisted living facility. The Coastline liquor license was sold separately to Woodcrest LLC for $1.05 million and will be used at the Woodcrest Country Club in Cherry Hill. Both sales closed on February 5, 2016 for a total of 3.6 million. n South Jersey Biz power 50 names Marlene Asselta TURNERSVILLE, NJ – South Jersey Biz has named Marlene Asselta , president
124 Brace Road
of the South- e r n N e w Jersey De- velopment Council , one of the most inf luent i a l profession- als in South Jersey. The
UPCOMING NEW JERSEY SPOTLIGHTS!
Marlene Asselta
•Overall retail sales and spending dropped again, al- though restaurants, grocery stores, and clothing stores did post modest gains for the third quarter. Interestingly, consumer confidence grew at the same time, hitting a post- recession high. •Retail vacancy in Camden County stood at 11%, with average rents in the range of $12.20/s/f NNN. This is a slight increase in both vacancy rates and average rents. •Retail vacancy in Burling- ton County stood at 10.2%, with average rents in the range of $13.15/s/f NNN. This is a notable drop in vacancy, while rents stayed essentially un- changed. •Retail vacancy in Glouces- ter County stood at 6.9%, with average rents in the range of $12.01/s/f NNN. This repre- sented an uptick in vacancy with rents unchanged. n continued from page 9B WCRE 3Q report Asselta has successfully led the SNJDC since 1985, an im- pressive career of 31 years. As the president of the organiza- tion, Asselta assists over 350 member organizations and 1100 members to encourage economic development, busi- ness growth, and professional development. in the surround- ing region. n magazine picked the Power 50, who shape change and add to the vitality of the com- munity.
November 11th, 2016 CENTRAL NEW JERSEY DEADLINE: October 28th
December 9th, 2016 NORTHERN NEW JERSEY DEADLINE: July 29th
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