4A —May 20 - June 16, 2022 — Retail Development Reimagined — M id A tlantic Real Estate Journal
www.marej.com
R etail D evelopment R eimagined
Deptford, New Jersey power center sells to Wharton Realty Group JLL Capital Markets closes sale of Deptford Landing in Southern New Jersey
D
EPTFORD, NJ AND READING, PA — JLL Capi-
tal Markets has complet- ed the sale of two retail properties in NJ and PA totaling 878,191 s/f. Deptford Landing, a
Jose Cruz
fully leased, 517,096 s/f retail power center in the South NJ community of Deptford has sold to Wharton Realty Group . JLL marketed the property
Exeter Commons
Deptford Landing
including the one of the world’s largest retailers as anchor ten- ants along with DSW, Michaels, Five Below, PetSmart, Ray-
mour’s Furniture, The Mat- tress Factory, Hand & Stone, Carter’s, Five Guys, Great Clips, Chipotle and National Vision.
Positioned on 67.33 acres at 2000 Clements Bridge Rd. 12 miles from downtown Phila- delphia, Deptford Landing is along NJ-42, one of the most traveled roadways in the area, and visible to more than 107,000 vehicles per day. The property has easy connectivity to I-76 and 295 and serves a trade area that includes 82,467 residents within a three-mile radius. The JLL Capital Markets team representing the seller was led by Jose Cruz, Chris Munley, Steve Simonelli, J.B. Bruno, Jim Galbally, Colin Behr and Austin Pierce . “Deptford Landing was well received by the investment community, with multiple offers coming from both private and in- stitutional investors,” Cruz said. In a separate transaction, JLL Capital Markets has closed the sale of Exeter Commons, a 361,095 s/f, dominant, grocery- anchored shopping center an- chored by a high-performing Giant Food and Lowe’s Home Improvement in Reading, PA. JLL represented the undis- closed seller. Wharton Realty Group acquired the asset. The JLL Retail Capital Mar- kets team representing the sell- er was led by senior managing directors Christopher Munley and James Galbally and senior director Colin Behr. “Market-dominant, grocery- anchored centers of scale such as Exeter Commons rarely become available to market,” Munley said. “With demand for assets of this nature never being greater, we fully antici- pate trades of like-kind prod- uct to price to a premium for the foreseeable future.” “It was a pleasure to work with Wharton Realty on their most recent acquisi- tion,” Galbally said. “Exeter Commons is a great addi- tion to their existing grocery- anchored shopping center portfolio in the Philadelphia market.” MAREJ
on behalf of the seller. Deptford Landing’s high- performing tenant lineup is dominated by national tenants,
Relocation Opportunities Wanted
PENNSYLVANIA COUNTIES OF INTEREST INCLUDE: Bradford, Bucks, Carbon, Columbia, Lackawanna, Lehigh, Luzerne, Lycoming, Monroe, Northampton, Pike, Schuylkill, Sullivan, Susquehanna, Tioga, Wayne, Wyoming TYPES OF LOCATIONS WANTED: End Cap, In-Line, Drive-Thru, Free Standing
PLEASE CONTACT: Abbie Muto muto_a@sdepa.com | Cheryl Green green_c@sdepa.com (610) 366-8120 • www.sdepa.com
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