CooperTowne Center at 711 East Evesham Road in Somerdale — Courtesy: JLL
By Joshua Burd
A busy shopping center in Camden County is on the market for sale, brokers with JLL announced, touting its strong, stable tenant roster in an area with “compelling” demographics.
Known as CooperTowne Center, the 165,000-square-foot property occupies 27.32 acres at 711 East Evesham Road in Somerdale. Tenants include Dollar General, Planet Fitness, Cinemark and a national indoor entertainment park, JLL said, providing a diverse range of merchandise, fitness and experiential retail users as part of a complex that’s 96 percent occupied with a weighted average lease term of eight years.
JLL added that the center, which is a mile from the New Jersey Turnpike and accessible from four county roads, draws from a three-mile trade area with an average household income of $138,306. Within a five-mile radius, 271,884 residents command $46 billion in buying power, the team said, with 84 percent employed in white-collar professions.
JLL’s Jose Cruz, J.B. Bruno, Kevin O’Hearn, James Galbally, Patrick Higgins and Bennet Pittel lead the listing team, with support from debt and equity specialists Max Custer and Ryan Carroll and leasing brokers David Townes and Alana Friedman.
“The area demonstrates exceptional stability with a 70 percent homeownership rate, 20 percent higher than the state average,” the firm wrote in its marketing materials. “This affluent, stable homeowner base creates ideal conditions for experiential and family-focused retail concepts, reflected in the property’s 13.1-year average tenant tenure and 43 (percent) of (gross leasable area) in place for over 10 years.”
JLL added that the property, which was built in 1988 and renovated in 2011, has a high-performing Walmart Supercenter as a shadow anchor. The surrounding county roads collectively carry 134,278 vehicles per day, traffic that’s accommodated by the center’s four separate entrances.
