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Camden County Retail Property 100 Percent Leased at Time of Sale
Lawnside, NJ, April 24, 2020 – Cushman & Wakefield’s Capital Markets team has arranged the sale of Lawnside Commons, a 151,000-square-foot retail property in Lawnside, N.J.
Located at 310 White Horse Pike, Lawnside Commons traded from an undisclosed institutional seller to a joint venture partnership between MCB and United Hampshire US REIT. The commercial real estate services firm represented the seller and procured the buyer in the $31.55 million trade orchestrated by East Rutherford-based investment sales specialists Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Max Helfman, along with Karen Iman and Keith Braccia of the firm’s Philadelphia office.
Anchored by Home Depot, the center’s co-tenancy includes nationally-recognized names such as PetSmart, Wendy’s, T-Mobile and Mattress Firm. The property offers excellent visibility at the crossroads of a primary commuting corridor in proximity to I-295 and the NJ Turnpike. Lawnside Commons boasts ample parking, excellent highway visibility and four separate points of ingress/egress, including a signalized intersection off Route 30.
“Lawnside Commons is supported by affluent demographics and a densely-populated trade area with a population of 286,000 people within a five-mile radius,” said Whitmer. “Currently 100 percent leased to a seasoned lineup of long-time national tenants, this asset presented an incredible opportunity to acquire a best-in-class retail property just eight miles from Philadelphia.”
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.