A private buyer has acquired a nearly 12,000-square-foot retail property in Burlington County, under a newly announced transaction by Marcus & Millichap.
Retail
The New Jersey retail landscape has changed, but the spending power of its residents hasn’t. Owners of malls, shopping centers and mixed-use projects will continue to adapt and invest in the state.
Landlords brace for fallout, search for solutions with retailers battered by COVID-19 shutdown
New Jersey shopping centers that once buzzed with a steady hum of activity have been quiet since late March, with most retail businesses shut down to contain the spread of COVID-19. Retail landlords are now scrambling to figure out how to deal with tenants who say they can’t pay rent because their revenue streams have stopped cold — even though property owners still have their own financial obligations.