196-198 Old Marlton Pike in Medford — Courtesy: Kislak Commercial Real Estate Services Inc.
By Joshua Burd
A would-be developer has purchased nearly five acres in Burlington County for $475,000, in a newly announced deal by Kislak Commercial Real Estate Services Inc.
According to the brokerage firm, the property at 196-198 Old Marlton Pike in Medford was the last piece of a portfolio of surplus sites held by the Lackland Self Storage Co. Kislak Executive Vice President Peter Wisniewski marked the property on behalf of the seller, 196-198 Old Marlton Pike LLC, while procuring Tudor Development LLC as the buyer.
“What an honor and pleasure it was to work with the Lackland family on selling these surplus sites in their portfolio,” Wisniewski said. He also noted “land values increased significantly since the purchase contract was signed.”
The 4.77-acre site is pending approvals as a commercial development site, with a range of permitted and conditional uses, according to a news release. Located at the intersection of Old Marlton Pike and Route 70, the land is highly visible from Route 73 in a development area within the Pinelands, across from the Medford Shopping Center.