A South Jersey shopping plaza has sold for $5.4 million in a deal that shows both the strength of the busy “3M” market in South Jersey and its influence on neighboring towns.
Universal Building & Construction Inc. acquired the 23,228-square-foot Bridgeboro Shopping Center at 80-88 Hartford Road. The shopping center is located within the boundaries of Delran Township but has a postal address in Moorestown, part of the in-demand “3M” market of Moorestown, Mt. Laurel and Marlton. The sale breaks down to about $232 per square foot.
The property includes two stand-alone buildings that are home to a Goddard School and Investors Bank branch. A nail salon, pharmacy, dry cleaners and convenience store hold long-term leases in the adjacent strip center.
Located on the border of Delran and Moorestown townships, the plaza is in an increasingly in-demand area as part of Delran has benefited from the strength of the 3M market and drawn new residential construction in recent years.
Along with the dense residential neighborhoods surrounding it, the Bridgeboro Shopping Center is located just about a mile from Route 130 and a busy shopping center that includes a ShopRite, Lowe’s, and a Chick-fil-A. It’s also roughly four miles from Route 38 and Interstate 295.
Article courtesy of Philadelphia Biz Journal.
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