Property Listing No Longer Available for Sale

542 Berlin - Cross Keys Road

Sicklerville, NJ

Retail for Sale - $6,999,000 - 40,695 Sq. Ft. on 8.28 acres


Property Info

CIMLS#455355
Location
  542 Berlin - Cross Keys Road
  Sicklerville NJ 08081
UpdatedAugust 17th, 2012
TypeRetail
Price$6,999,000
Building40,695 Sq. Ft.
Land8.28 acres

Property Description

Winslow Plaza is located on Berlin-Cross Keys Road at its intersection with Chews Landing/Williamstown Road in Southern New Jersey. Less than a mile off of the Atlantic City Expressway, this intersection has developed around Winslow Plaza in the last 10 years. On the opposing corner is an institutionally owned Acme-anchored shopping center. On a diagonal is Town Square Plaza, a Target and Lowe’s-anchored center with several pad sites and junior boxes. More recently, The Shoppes at Avandale was developed at the Atlantic City Expressway Interchange which is leased to many higher-end fashion oriented retailers (an indicator of this area’s spending power). Winslow Plaza not only benefits from being shadow-anchored by the market leading grocery concept in the Philadelphia marketplace, it also has excellent visibility and access. It has a shared parking field with the grocer and has ingress and egress on both cross-streets. The neighboring Target and Lowe’s center solidifies this asset's positioning in the submarket as it will attract a regional customer base (Target does have grocery in this location). Other national tenants in the area include a freestanding Wawa (with gas) on the opposing corner, Chick-fil-A, STS Auto and Applebee’s Neighborhood Bar and Grill. There is a population of 60,000 people within a three-mile radius of Winslow Plaza and it is located in an affluent suburb of Philadelphia.


Financials

Marcus & Millichap is pleased to exclusively present Winslow Plaza, a 40,695 square foot shadow grocery-anchored shopping center in Sickerville, New Jersey. Constructed in the mid-1990's, this well-constructed red brick/block shopping center is currently 94 percent occupied by a quality mix of tenants, a majority of which have exercised multiple renewals at this location. Winslow Plaza significantly benefits from its placement next to a detached, full-size ShopRite grocery store. ShopRite leads the Philadelphia region in grocery sales with more than 43 stores and sales of $1.7 billion in 2011. In New Jersey, ShopRite has a particularly dominant market share, and the high volume at this location provides immense traffic to the shop space included in this offering. The largest inline tenant is King’s Liquors which has operated in this location since 1997. In 2009, it was expanded from a 6,700 square foot space to its current size. Other sizable tenant’s include Soltz Paints, a Benjamin Moore distributor, who recently renewed its first option. In fact, 61 percent of the gross leasable area have renewed their leases at least once - an important indicator of success in a stable “local” tenant mix. For full Offering Memorandum, Contact Listing Agent. Please return a completed CA for full Offering Memorandum.