627 Cross Keys Road in Sicklerville — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has acquired a two-tenant retail pad site in Sicklerville, in a $5 million transaction arranged by Marcus & Millichap.
Brokers with the firm said they represented GVR Realty in the sale of the property at 627 Cross Keys Road, which is anchored by Buffalo Wild Wings and AtlantiCare Urgent Care. The team also secured and represented the undisclosed buyer, which is based in Livingston.
Marcus & Millichap Associate Mark Krantz and First Vice President for Investments Derrick Dougherty, who are based in the firm’s Philadelphia office, completed the transaction.
“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.”
The brokers noted that AtlantiCare recently renewed for another five years, while the overall property benefits from its established location in the Gloucester Township submarket and only 15 miles from Philadelphia and 45 miles from Atlantic City.