Picture by Eduardo Soares by way of Unsplash.com
Lamar Cos. and Actual Capital Options have acquired Village at Cambridge Crossing, a 128,000-square-foot retail heart in Mount Laurel, N.J. Barings, the vendor, had bought the asset again in 2014 for $41.7 million, in response to CommercialEdge.
Village at Cambridge Crossing encompasses 9 one-story buildings accomplished in 1999, the identical information supplier reveals. Anchored by LA Health, the retail heart is house to a mixture of tenants that features FedEx, New Stability, LOFT, Chico’s, Panchero’s Mexican Grill and AAA Automobile Care, amongst others.
Village at Cambridge Crossing occupies nearly 19 acres at 4010 Dearborn Circle, some 16 miles from downtown Philadelphia. The property is close to the intersection of Interstate 295 and Route 38, in an space the place the every day visitors rely reaches roughly 50,000 autos. Rowan Faculty at Burlington County and The Funplex are inside 2 miles of the purchasing heart.
A number of transactions involving retail property have closed within the Philadelphia metro for the reason that starting of the yr. In February, PREIT offered a 65,155-square-foot Complete Meals Market parcel in Plymouth Assembly, Pa., whereas a three way partnership between Goodman Properties and The Provco Group paid $24.6 million for a 134,980-square-foot, grocery-anchored purchasing heart in Warrington, Pa.
In March, Milbrook Properties acquired a 124,626-square-foot, grocery-anchored retail heart in New Britain, Pa. JLL Capital Marketsfacilitated the deal on behalf of the vendor, Federal Realty Funding Belief.
