Sale of 2 Acres for a new CVS, Cherry Hill, NJ
1803 & 1807 Springdale Road
1900-1904-1906 Route 70 East
Cherry Hill, NJ
Property Type: Retail / Land
Site Size: 2+/- Acres
Buyer: Moreland Development
Seller: Multiple Property Owners
Broker: Adam Rose President, Jeffery Lucas, Director of Business Development
The Rose Commercial Real Estate team of Adam Rose, President, and Jeffrey Lucas, Director of Business Development, negotiates the purchase of 2 prime retail acres at the intersection of Route 70 East and Springdale Road in Cherry Hill, NJ for a new 13,074 square foot CVS. Buyer Moreland Development, LLC of Bala Cynwyd, PA, has already broken ground on the project, which involves the redevelopment of several adjacent lots, including 1803 & 1807 Springdale Road and 1900-1904-1906 Route 70 East. High traffic count and dense population are just two of the reasons the site was selected for the national pharmacy and retailer with a planned opening in the summer 2021.
“This is not the first time we have worked with Moreland Development,” Rose said of the real estate development company founded in 1999 and partner, Eric Seidman. “I have known Eric for years and admire every member of his team. Their professionalism is beyond reproach.” The sale, which involved multiple sellers, closed on October 8, 2020 for a price of $4,000,000.