Southwood Shopping Center on Route 45 in West Deptford — Courtesy: Vantage Commercial
By Joshua Burd
A family has sold an 83,000-square-foot shopping center in Gloucester County after more than 60 years, in a transaction arranged by Vantage Commercial.
The brokerage firm, which represented the undisclosed seller, said a development group purchased and now plans to renovate the Southwood Shopping Center on Route 45 in West Deptford. In the process, it hopes to revitalize a stretch of the highway, which connects the nearby borough of Westville to Salem County.
Vantage Commercial Senior Adviser Corinne Giletto brokered the off-market deal, the terms of which were not disclosed. The new owner, which has retained the firm as its leasing broker for the center, now aims to attract new tenants, modify the anchors and reinvigorate the center in hopes of providing products and services to the surrounding communities.
“This is a project close to my heart and the community in Gloucester County in which I live,” Giletto said. “I am invested in transforming this center and my team has already uncovered opportunities that were previously missed.”