CBRE Facilitates $13M Sale Of Three Retail Properties And Undeveloped Land Parcel In Voorhees' Cedar Hill Shopping Center

The Cedar Hill Shopping Center in Voorhees recently saw the sale of three retail properties and an undeveloped land parcel, facilitated by CBRE. The portfolio was acquired by a buyer who recognized the value-add potential in the affluent suburban Philadelphia market. The shopping center is anchored by well-known retailers such as Lowe’s, BJ’s Wholesale Club, and Aldi. The properties within the portfolio feature diverse tenants, including Starbucks, the Vitamin Shoppe, AT&T, and a recently added Savers Thrift Store. The total acreage of the transaction is 19.2 acres, with a total sale price of $13,000,000. The retail properties have a combined square footage of 62,358 square feet, resulting in a price per square foot of $208.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $13,000,000
• Address: 142-178 Route 73
• Market: Voorhees
• Acres: 19.2
• Brokers: Matthew Gorman, Michael Shover, Robert Thompson & Thomas Finnegan - CBRE
• Tenants: Starbucks, the Vitamin Shoppe, AT&T, and Savers Thrift Store

The deal was successfully facilitated by the CBRE team, consisting of brokers Matthew Gorman, Michael Shover, Robert Thompson, and Thomas Finnegan. Their expertise in the market and strong industry connections played a crucial role in securing this transaction. The buyer identified the potential for growth and profitability in the affluent suburban Philadelphia market, making this acquisition a strategic move. This successful sale underscores the attractiveness of the Cedar Hill Shopping Center and its potential for future development.