233 South Broadway in Pennsville — Courtesy: The Goldstein Group
By Joshua Burd
Paramount Realty has acquired a development site in Salem County that it now plans to develop as a Wawa convenience store and gas station, in a deal arranged by The Goldstein Group.
According to a news release, the 1.5-acre pad site at 233 South Broadway in Pennsville is part of a parcel known as Cranberry Plaza, which is anchored by Save A Lot and Auto Zone. Nearby operators, meantime, include Walgreens, Bayshore Ford, Pennsville Library, a United States Post Office, Pennsville National Bank and Fulton Bank.
The Goldstein Group Vice President Scott Milich and Director Chris Conway represented both the seller, South Jersey Shops 2019 LLC, and the buyer. Terms were not disclosed.
“This pad site at Cranberry Plaza provides an exceptional opportunity for Wawa to relocate from a smaller convenience store only site to provide its customers with a full convenience store along with gas,” said Neil Goldstein, a principal with the Paramus-based brokerage firm. “Paramount has developed many Wawa properties and had the experience and expertise to handle this asset which needed to be subdivided from the larger parcel.”
