Private Investor Acquires Retail Property On S Broadway, Pennsville For $3.53M

Cranberry Plaza is a retail asset located at 233 S Broadway, Pennsville, NJ, encompassing a total of 106,165 square feet. The property was sold for $3,530,000, and it sits on 18 acres of land. It features a diverse tenant mix, including Save A Lot, Metro PCS, and local businesses such as PV Pets and Tap & Bottle, contributing to its market presence in Pennsville.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,530,000.00
• Address: 233 S Broadway, Pennsville, NJ, 08070
• Market: Pennsville
• Square Footage: 106,165
• Seller's Representative: Michael Cebula - Marcus & Millichap
• Buyer: Private Investor

Michael Cebula, a senior associate with Marcus & Millichap, represented both the seller, a private New Jersey-based investor who owned the property for ten years, and the buyer, also a private investor from New Jersey. The seller made several capital improvements to the property during their ownership.