Bridgeboro Shopping Center at 80-88 Hartford Road in Moorestown — Courtesy: Rose Commercial Real Estate
By Joshua Burd
An investor has acquired a nearly 25,000-square-foot shopping center in Moorestown, under a $5.4 million transaction arranged by Rose Commercial Real Estate.
The buyer, Universal Building & Construction Inc., recently closed on its purchase of the Bridgeboro Shopping Center at 80-88 Hartford Road, according to a news release. Rose Commercial identified Bridgeboro Square LLC as the seller of the 23,228-square-foot complex, which includes an Investors Bank, Hartford Market, HQ Cleaners and others.
Adam Rose, president of Marlton-based brokerage firm, completed the assignment. He noted that the transaction was the second such deal that it negotiated on behalf of the buyer in 2019, adding that the investor was once again looking for an investment with long-term tenants, a good cap rate and a high net operating income.