Gorman & Co. LLC Acquires Property From RPC Real Estate For $18.2 Million In Mount Laurel

The property involved in this transaction is Larchmont Commons, a retail center located at 3103 Nj-38, Mount Laurel Township, New Jersey. The asset was sold for $18,200,000.00 and has a total area of 128,172 square feet. It is situated in the Mount Laurel market and was 88 percent leased at the time of the sale, with key tenants including ALDI, Planet Fitness, and Dollar Tree.

Summary of transaction details:

• Property Type: Retail Center
• Transaction Amount: $18,200,000.00
• Address: 3103 Nj-38, Mount Laurel Township, New Jersey
• Market: Mount Laurel
• Square Footage: 128,172
• Seller: RPC Real Estate
• Buyer: Gorman & Co. LLC
• Seller's Rep: Christopher "Chris" Munley-JLL, Colin Behr-JLL, James "Jim" Galbally-JLL
• Loan Amount: $12.9 million
• Loan Provider: Institutional Lender
• Other Tenants: Hair Cuttery, The UPS Store, Kumon Learning Center

JLL played a significant role in the transaction, representing the sellers RPC Real Estate and Merion Realty Partners. The team included Chris Munley, James Galbally, Jose Cruz, and Colin Behr. Additionally, Ryan Ade of JLL facilitated financing for the buyer Gorman & Co. LLC through a fixed-rate acquisition loan.