Sale of 23,228 SF Shopping Center, Moorestown, NJ
80-88 Hartford Road, Moorestown, NJ
Property Type: Shopping Center, Day Care Center
Site Size: 23,228 SF
Buyer: Universal Building & Construction, Inc.
Seller: Bridgeboro Square, LLC
Broker: Adam Rose, President
Adam Rose, President at Rose Commercial Real Estate, represented Universal Building & Construction, Inc. in the purchase of Bridgeboro Shopping Center, a 23,228 square foot mulit-tenant strip center located at 80-88 Hartford Road in Moorestown, New Jersey. This is the second such deal the firn negotiated for this investor in 2019. The buyer was once again looking for an investment with long-term tenants, a good cap rate and a high net operating income. Set on the border of Delran amid dense residential areas, the strip center has a mix of tenants, including the Goddard School, Investors Bank, Hartford Market, HQ Cleaners, Delran Pharmacy and a Nail Salon all with long term leases. The transaction between Universal Building Construction, Inc. and seller, Bridgeboro Square, LLC, closed on December 26, 2019 at a purchase price of $5,400,000.
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