Prime Location on ‘Landmark’ Corner in Cherry Hill Sells for $4M to Make Way for CVS

Four prime pieces of real estate on Route 70 in Cherry Hill sold for a combined $4 million with the buyer planning to tear down the existing structures on the sites to build a CVS.

Bala Cynwyd-based Moreland Development purchased the two acres of property at the corner of Route 70 and Springdale Road after securing approvals for the 13,000-square-foot CVS over the past year.

The parcels include 1900-1904 Rt. 70 East and 1803 and 1807 Springdale Road.

To move forward with the project, Moreland — known for developing at least five of the new Royal Farms convenience stores that have opened in the Philadelphia area in recent years — will demolish the existing structures on the properties. One is the Morton and Rudolph Jewelers store on Route 70, a prominent building with a gray-blue exterior and circular windows. After more than 25 years in the location, the store is moving about a mile east to 2085 Rt. 70 in the township.

The CVS development is a good answer to the three main questions when evaluating a project: What will fit on the site? Will the market support it? And what will local government approve?

The Cherry Hill location is ideal for a pharmacy and the traffic it would draw since it’s a corner lot next to a traffic light. Despite the many health care offices and outpatient centers surrounding the area, there are also no large pharmacy stores like CVS on Route 70 in the eastern side of the township. That means a CVS also brings an added value to the people who live, work and have medical appointments in the area, and is likely why there were no major public objections to the project.

Demolition is expected to take place before the end of the year, and construction on the CVS will likely begin next year for an expected summer 2021 opening.

*Article courtesy of Philadelphia Business Journal

For more information about this Cherry Hill retail space or about any other Cherry Hill commercial properties for sale or lease, please contact the team at Wolf Commercial Real Estate, a Cherry Hill commercial real estate broker at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services related to this retail space.

Wolf Commercial Real Estate also offers property management services, and marketing commercial offices, medical properties, warehouse properties, industrial properties, land properties, retail spaces and other Cherry Hill commercial properties for buyers, tenants, investors, and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for lease or sale through our Cherry Hill commercial real estate brokerage firm.

Chalupa, Burrito or Taco: All on the Menu Next Summer at Taco Bell on Cherry Hill’s East Side.

If you’re a Taco Bell fan, you’ll be able to satisfy your cravings on the east side of Cherry Hill beginning next summer.

The Planning Board voted 5-1 Monday night to approve preliminary and final major site plans for the restaurant to open at the northwest corner of the parking lot of Marlton Plaza on Route 70. It will neighbor Cooper Urgent Care, at Route 70 and Old Orchard Road. Board member Anne Madden Tufano was the sole vote against the plan because, she said, she did not approve of a third sign, which will be over the entrance.

“We expect to open in the summer of 2021 if we receive all of our necessary approvals,” Robert J. Nasuti, general counsel of Summerwood Corp. of Conshohocken, told 70and73.com in an email message on Monday. Summerwood, which operates more than 100 restaurants including Taco Bell, Pizza Hut, KFC, Burger King, and Long John Silver’s, applied to Cherry Hill as New Jersey Restaurants LLC.

Preliminary plans for the Taco Bell were approved May 4 by the board. “The (overall) site is old, it is tired,” said Haddonfield lawyer Damien Del Duca, who represented the applicant at the May meeting. “I think it’s a tremendous improvement,” said board chair John Osorio.

Michele Golkow, a board member and also a member of Township Council, said the Taco Bell will be a welcome addition to the corner of an underutilized parking lot and shopping center.

Since the May meeting, New Jersey Restaurants amended its proposal to include double-drive-through lanes rather than a single lane. Brian Cleary, an engineer with Pettit Group of Sewell and representing the applicant, told the board the restaurant company wants two drive-through lanes because of the COVID-19 pandemic and the resulting increase in drive-through patronage. Several area fast-food restaurants, including Chick-fil-A, use double lanes.

Proposed purple and blue murals on the building were deemed signage by the board because they contained partial bells from the Taco Bell trademark. The applicant told the board it would withdraw plans for the murals.

The Taco Bell is expected to open at 7 a.m. for breakfast and the drive-through lanes will close at 2 a.m., the applicant’s representatives testified.

Neither Monday’s meeting nor the May meeting included any public comment on the Taco Bell proposal.

*Article courtesy of 70 and 73

For more information about this Cherry Hill retail space for sale or lease or any other Cherry Hill commercial properties for sale, please contact the team at WCRE 856-857-6300, a leading Cherry Hill commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for sale or lease through our Cherry Hill commercial real estate brokerage firm.

Trader Joe’s announces July 30 opening date in Cherry Hill

Trader Joe’s has announced a July 30 opening date for its new store here.

The 13,000-square-foot shop, at Haddonfield Road and Garden Park Boulevard, will be the grocery chain’s first outlet in Cherry Hill. It will be the 18th Trader Joe’s in New Jersey.

The store will operate from 8 a.m. to 9 p.m. at the Towne Place at Garden State Park shopping center.

Effective Friday, July 31, the first hour of the shopping day will be reserved for “senior customers and customers with disabilities who might need additional assistance,” the statement added.

It said the new store will feature “social distancing measures to keep both crew members and customers safe.”

Trader Joe’s is one of several retailers coming to the shopping center at the former site of Garden State Park racetrack.

Currently in the works are outlets for HomeGoods and TJMaxx, both owned by Massachusetts-based TJX Companies.

Stores are being built for Costco, Duluth Trading Co. and a retailer still to be identified at the other end of Garden Park Boulevard.

But the complex also has seen closings in recent months for Destination Maternity, Yankee Candle and Pier 1.

At least one restaurant, Zinburger, has said it will not reopen its outlet.

Artwork in the store will salute “local landmarks and attractions,” including the former Garden State Park racetrack and the long-departed Hawaiian Cottage.

A ceremonial ribbon-cutting will take place “moments before” the shop opens, Trader Joe’s said in a statement Wednesday.

’”The celebration will continue with music and giveaways,” it added.

Trader Joe’s, which offers a range of domestic and imported products, has more than 400 stores across the country.

*Article courtesy of Courier Post

For more information about this Cherry Hill retail space or about any other Cherry Hill commercial properties for sale or lease, please contact the team at Wolf Commercial Real Estate, a Cherry Hill commercial real estate broker at 856-857-6300.

Wolf Commercial Real Estate, a full-service  CORFAC International brokerage and advisory firm, is a premier Cherry Hill  commercial real estate broker that provides a full range of Cherry Hill  commercial real estate listings and services related to this retail space.

Wolf Commercial Real Estate also offers property management services, and marketing commercial offices, medical properties, warehouse properties, industrial properties, land properties, retail spaces and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for lease or sale through our Cherry Hill commercial real estate brokerage firm.

New CVS at Route 70 and Springdale Road gets Cherry Hill zoning board approval

A new CVS drive-through pharmacy will rise at the busy intersection of Route 70 and Springdale Road in Cherry Hill, replacing Morton & Rudolph jewelers and other buildings.

The Cherry Hill Zoning Board of Adjustment Thursday night voted unanimous approval for developer S&P Cherry Hill LLC’s preliminary and final site plans. A use variance for the project was approved by the board unanimously in September.

S&P proposed a more modern, enhanced CVS with peaked roofs rather than flat roofs and gray siding rather than standard brick.

Developer’s application to Cherry Hill Zoning Board of Adjustment

Board members and the board professionals focused mostly on traffic circulation through the CVS site. Board engineer Stacey Arcari noted at the pre-meeting caucus that this area on Route 70 tends to get congested, particularly during peak hours.

Driveways on Route 70 will be right in and right out only. The driveways on Springdale Road will be right in and right out although a left turn from Springdale would be permitted into CVS.

A left-hand turn from Springdale would work because traffic is heaviest on Springdale Road southbound rather than in the northbound lane, which is next to the planned CVS, said Nathan B. Mosley, a senior project manager at Shropshire Associates LLC, the Atco firm that prepared the traffic study for the developer.

The addresses include 1900 Route 70 East and 1803 and 1807 Springdale Road.

A proposal to expand a car dealership for Land Rover on Haddonfield Road was supposed to be heard but was postponed to the next meeting on June 18, which will begin with a caucus at 6 p.m. rather than the usual 7 p.m. starting time.

*Article courtesy of 70 and 73

For more information about this Cherry Hill retail space for sale or lease or any other Cherry Hill commercial properties for sale, please contact the team at WCRE 856-857-6300, a leading Cherry Hill commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for sale or lease through our Cherry Hill commercial real estate brokerage firm.

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Cherry Hill board to consider Taco Bell for Route 70 site

A restaurant operator wants to build a Taco Bell here. The township planning board on Monday is to consider the proposed drive-thru eatery at a Route 70 shopping center.

The 2,753-square-foot restaurant, if approved, would rise in the parking lot of Marlton Plaza between Old Orchard Road and Split Rock Drive.

The project is proposed by an affiliate of Summerwood Corp., a suburban Philadelphia operator of fast-food restaurants. The company’s outlets also include Burger King, Pizza Hut, Long John Silver’s and KFC restaurants, according to its website.

The application describes the project, which would be adjacent to a Cooper Urgent Care Center on the eastbound highway, as “consistent with development along Route 70.”

It notes some 52,000 vehicles pass the site daily.

Much of the parking lot is currently unused at the 15-acre project, which was developed in the 1970s and once held a Clover discount store.

The shopping center, which is anchored by Planet Fitness, has more than 46,000 square feet of vacant space, the application says.

Representatives of Summerwood and the shopping center’s owner, Kimco Realty, could not be reached for comment.

The developer is seeking preliminary and final major site plan approval for the Taco Bell, which would be the chain’s second site in Cherry Hill.

A Taco Bell already operates on the 500 block of Haddonfield Road.

*Article courtesy of Courier Post

For more information about this Cherry Hill retail space for sale or lease or any other Cherry Hill commercial properties for sale, please contact the team at WCRE 856-857-6300, a leading Cherry Hill commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for sale or lease through our Cherry Hill commercial real estate brokerage firm.

Price Just Reduced on Cherry Hill Retail Space for Sale

Wolf Commercial Real Estate, the leading Cherry Hill commercial real estate brokerage firm with expertise in Cherry Hill commercial real estate listings and services is announcing a price reduction on now available Cherry Hill retail space for sale at 2 Kresson Road Cherry Hill NJ.

The asking sale price for this retail space in Cherry Hill at 2 Kresson Road Cherry Hill NJ is now $695,000. This Cherry Hill retail space for sale is available through Wolf Commercial Real Estate, a Cherry Hill commercial real estate broker that specializes in Cherry Hill commercial real estate listings and services.

This Cherry Hill retail space for sale contains +/- 5,200 square feet of retail space and this retail space in Cherry Hill is a free-standing building on a .39-acre lot. This well-located Cherry Hill retail space for sale offers storefront façade signage and is available for immediate occupancy. This retail space in Cherry Hill is a well-maintained property.

This retail space in Cherry Hill at 2 Kresson Road Cherry Hill NJ is close to both the Haddonfield and Cherry Hill business districts as well as I-295 and Route 70. This Cherry Hill retail space for sale is being offered through Wolf Commercial Real Estate, a Cherry Hill commercial real estate brokerage firm that specializes in Cherry Hill commercial real estate listings and services.

There is a .46-acre parking lot across the street from this retail space in Cherry Hill that is included in the transaction and more than 23,000 vehicles a day pass by this Cherry Hill retail space for sale. More than 303,000 residents live within five miles of this Cherry Hill retail space for sale and the average household income in the same five-mile radius of this retail space in Cherry Hill is $86,350.

For more information about this Cherry Hill retail space for sale at 2 Kresson Road Cherry Hill NJ, or about any other Cherry Hill commercial properties for sale, please contact Christopher Henderson (856-857-6337; chris.henderson@wolfcre.com) or Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Cherry Hill commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for sale or lease through our Cherry Hill commercial real estate brokerage firm.

New Dunkin’ Donuts planned for Springdale Road in Cherry Hill

The owner of property that now contains a closed gasoline station at 2061 Springdale Road in Cherry Hill has applied to the Zoning Board of Adjustment for approval to convert the site into a Dunkin’ Donuts with drive-through service. The property is at the corner of Carnegie Plaza.

A current Dunkin’ operating almost directly across Springdale Road in a strip plaza would move into the new facility, on the property owned by Trinetra Realty Holdings PA, Richard J. Goldstein, lawyer for the applicant, told 70and73.com. Goldstein is with the Cherry Hill firm of Hangley Aronchick Segal Pudlin & Schiller.

The application is scheduled before the board at its virtual, teleconference meeting on May 21 at 7:30 p.m.

*Article courtesy of 70and73

For more information about this Cherry Hill retail space for sale or lease or any other Cherry Hill commercial properties for sale, please contact the team at WCRE 856-857-6300, a leading Cherry Hill commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for sale or lease through our Cherry Hill commercial real estate brokerage firm.

Cherry Hill movie theater and restaurant sold for $16M

The day after the World Health Organization declared the spread of Covid-19 a global pandemic and restaurants and movie theaters began shutting down across the U.S., an AMC movie theater and TGI Fridays restaurant in Cherry Hill quietly traded hands for $16 million.

According to property records, Cherry Hill Inn Redevelopment Partners, an LLC affiliated with a North Jersey-based real estate development company, sold the property at 2125 and 2121 Rt. 38 to EPR Properties, a Kansas City-based real estate investment trust specializing in experiential properties.

EPR (NYSE: EPR) did not return a request for comment.

EPR purchased the AMC theater and the TGI Fridays located in front of it in a deed drafted on Jan. 22, the day after the first case of Covid-19 was confirmed in the U.S. It was effective on March 12.

The development company tied to the seller, Canoe Brook Development, develops luxury multifamily properties, mostly in North Jersey and Massachusetts. The firm also did not return a request for comment. Property records show the seller has held the theater and restaurant property since it was developed in the late 1990s on the site of the former Cherry Hill Inn.

The same day the Cherry Hill property sold, EPR withdrew its 2020 earnings guidance and announced it was halting all uncommitted investment spending.

AMC Theatres is EPR’s largest tenant, representing 18% of the company’s total revenue. A new $500 million debt offering is helping AMC’s parent company stave off rumors of a potential bankruptcy, but EPR said in an update to investors Tuesday that, despite AMC’s new liquidity, it will begin recognizing revenue from AMC on a cash basis and record a non-cash write-off of $12.5 million in straight-line rent receivable for the first quarter.

Overall, EPR’s tenants have paid about 15% of contracted monthly payments for April. The firm agreed to defer payments on a month-to-month basis for all tenants that haven’t paid their April rent.

About 45% of EPR’s revenue comes from its ownership of 179 movie theaters nationwide, with a little less than a quarter coming from “eat and play” facilities like Topgolf. Attractions, experiential lodging, gaming and other facilities make up the rest of its experience-focused properties.

A small portion of EPR’s revenue stems from its ownership of private schools and early childhood education. It sold off its 47-building charter school portfolio to Rosemawr Management late last year, recording an impairment loss of $21.4 million on the sale. Part of the deal included the sale of a three-building charter school campus in Camden for $15 million, $3 million less than the property cost to develop seven years prior.

*Article courtesy of Michelle Caffrey, Philadelphia Business Journal

For more information about this Cherry Hill retail space for sale or lease or any other Cherry Hill commercial properties for sale, please contact the team at WCRE 856-857-6300, a leading Cherry Hill commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for sale or lease through our Cherry Hill commercial real estate brokerage firm.

Prime Cherry Hill Retail Space for Sale or Lease on Marlton Pike East

Wolf Commercial Real Estate, the foremost Cherry Hill commercial real estate brokerage firm that specializes in Cherry Hill commercial real estate listings and services, now is offering prime Cherry Hill retail space for sale or lease at 1432 Marlton Pike East Cherry Hill NJ.

In the heart of the Cherry Hill Business District, this Cherry Hill retail space for sale or lease is a property that can be used as a multi-purpose fitness/recreation facility. As such, this Cherry Hill retail space for sale or lease is zoned Highway Business 2.

The asking sale price for this Cherry Hill retail building for sale or lease is $3,300,000 and the asking lease price for this retail property in Cherry Hill at 1432 Marlton Pike East Cherry Hill NJ is $13.00/SF NNN. This Cherry Hill retail property for sale or lease is available through Wolf Commercial Real Estate, a Cherry Hill commercial real estate broker that specializes in Cherry Hill commercial real estate listings and services.

This South Jersey retail property for sale or lease is a currently operating fitness center and this free-standing retail building in South Jersey contains 35,000 square feet of retail space in South Jersey. This retail building in South Jersey at 1432 Marlton Pike East Cherry Hill NJ sits on a 2.9-acre lot.

This retail space in Cherry Hill has both building and pylon signage available and an entrance on to and off of Route 70. In addition, this Cherry Hill retail space for sale or lease at 1432 Marlton Pike East Cherry Hill NJ has abundant parking. This retail space in Cherry Hill is available through Wolf Commercial Real Estate, a Cherry Hill commercial real estate brokerage firm.

More than 241,000 potential customers live within five miles of this Cherry Hill retail space for sale or lease at 1432 Marlton Pike East Cherry Hill NJ and the average household income within that same radius of this retail space in Cherry Hill in $97,035.

For more information about this Cherry Hill retail space for sale or lease at 1432 Marlton Pike East Cherry Hill NJ or about any other Cherry Hill commercial properties for sale or lease, please contact Chris Henderson (856-857-6337; chris.henderson@wolfcre.com) or Michael Scanzano (856-857-6386; mike.scanzano@wolfcre.com) at Wolf Commercial Real Estate, a Cherry Hill commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, warehouse properties, industrial properties, land properties, retail spaces and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for sale or lease or sale through our Cherry Hill commercial real estate brokerage firm.

Premier Cherry Hill Retail Space for Sale or Lease on Marlton Pike

Wolf Commercial Real Estate, the leading Cherry Hill commercial real estate brokerage firm with expertise in Cherry Hill commercial real estate listings and services, now has available Cherry Hill retail space for sale or lease at 2310 Marlton Pike West Cherry Hill NJ.

This Cherry Hill retail property for sale or lease is a currently operating restaurant and this free-standing retail building in Cherry Hill contains 20,000 square feet of retail space in Cherry Hill at 2310 Marlton Pike West Cherry Hill NJ-square-foot facility and, additionally, this retail building in Cherry Hill currently serves as an operating restaurant.

Please call for more information on the asking sale and lease prices for this Cherry Hill retail building for sale or lease. This Cherry Hill retail property for sale or lease is available through Wolf Commercial Real Estate, a Cherry Hill commercial real estate broker that specializes in Cherry Hill commercial real estate listings and services.

This retail property in Cherry Hill at 2310 Marlton Pike West Cherry Hill NJ sits on a 5.5-acre lot and is a perfect location for a redevelopment opportunity. Conversely, a new owner can choose to maintain and/or expand the restaurant business at this retail space in Cherry Hill.

This Cherry Hill retail building for sale or lease is being offered through Wolf Commercial Real Estate, a Cherry Hill commercial real estate brokerage firm that specializes in Cherry Hill commercial real estate listings and services.

There is abundant parking (150 cars) at this retail space in Cherry Hill.  Route 38, I-295, and the New Jersey Turnpike are nearby this Cherry Hill retail property for sale or lease and there is access to both the east- and westbound lanes of Route 70 from this retail building in Cherry Hill.

For more information about this Cherry Hill retail space for sale or lease at 2310 Marlton Pike West Cherry Hill NJ, or about any other Cherry Hill commercial properties for sale or lease, please contact Chris Henderson (856-857-6337; chris.henderson@wolfcre.com) or Michael Scanzano (856-857-6386; mike.scanzano@wolfcre.com) at Wolf Commercial Real Estate, a leading Cherry Hill commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Cherry Hill commercial real estate broker that provides a full range of Cherry Hill commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Cherry Hill commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Cherry Hill commercial properties for sale or lease or lease through our Cherry Hill commercial real estate brokerage firm.