Yates Plaza at 1572 and 1576 Route 206 in Tabernacle — Courtesy: Rose Commercial Real Estate
By Joshua Burd
A local restauranteur has acquired a nearly 14,000-square-foot strip center in the Burlington County township of Tabernacle, in a deal arranged by Rose Commercial Real Estate.
In a news release, the brokerage said Yates Plaza at 1572 and 1576 Route 206 traded for the first time in more than 50 years as part of a sale by the heirs of its longtime owner. A buyer listed as 1572 Rt 206 LLC paid $1.15 million for the 13,656-square-foot property.
Rose Commercial Director of Investment Sales Alan Sussman represented Kenmare Limited LLC in the sale, which closed Feb. 14, noting that the property was roughly 70 percent occupied at the time. Many of those tenants have been in place for more than two decades.
