Michael Lombardi Of Horvath & Tremblay Brokers $4.98M Sale Of Retail Space In Burlington

The asset involved in this transaction is a retail property located at 2501 Mount Holly Road in Burlington, NJ. The sale price was $4,980,834, encompassing a total area of 6,700 square feet, resulting in a price per square foot of $743.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,980,834
• Square Footage: 6,700
• Price per Square Foot: $743
• Address: 2501 Mount Holly Road
• Market: Burlington

The transaction was brokered by Michael Lombardi representing Horvath & Tremblay. Notably, the property features newly constructed spaces for Panera Bread and Sleep Number, both of which have secured 10-year leases that include a 10% rent increase in the sixth year. The property is situated within the under-construction 40-acre mixed-use development known as The Shops at the Crossings.