Just Closed: $5M South Jersey - Two Tenant Pad Site

SICKLERVILLE, NJ: Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a two tenant pad site featuring Buffalo Wild Wings and AtlantiCare Urgent Care. The property sold for $5,000,000.

Mark Krantz, associate, and Derrick Dougherty, first vice president investments in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, GVR Realty, based in Piscataway, NJ. The buyer, a private investor based out of Livingston, NJ, was secured and represented by the pair as well.

“The site is well located as an outparcel to a 200,000-square-foot lifestyle center with tenants that have strong roots in the submarket,” Krantz said. “In today’s retail environment pad sites continue to experience a strong investor demand because of its location, access, visibility, and customer base.

Located at 627 Cross Keys Road, Sicklerville, NJ, the site consists of a combination of two service-based tenants, with national and regional brands. The center is anchored by Buffalo Wild Wings, a national chain, and co-anchored by AtlantiCare. The urgent care recently renewed for another five years, showing commitment to the site.

The building benefits from its established location in the Gloucester Township submarket, only 15 miles from Philadelphia and 45 miles from Atlantic City. The property is strategically located at a signalized intersection along Cross Keys Road, a primary retail corridor which averages more than 44,000 vehicles per day.

Brian Hosey is the broker of record for New Jersey.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit:www.MarcusMillichap.com