A rendering of 1945 Route 70 East in Cherry Hill, following renovations planned by JJN Real Estate Holdings LLC — Courtesy: Wolf Commercial Real Estate
By Joshua Burd
An investor has acquired a 17,500-square-foot commercial building in Cherry Hill, with plans to renovate and welcome new tenants to the property later this year.
The new owner, JJN Real Estate Holdings LLC, acquired the building at 1945 Route 70 East from KC PROPCO LLC, in a deal brokered by Wolf Commercial Real Estate. The brokerage team said JJN has retained The Bannett Group to transform the property “into a first class medical/professional office building,” with occupancy for new tenants slated for the fourth quarter.
Jason Wolf, managing principal of WCRE, and John Mozzillo, senior associate and director of investment sales, represented both parties in the transaction. They touted the building’s proximity to Interstate 295 and the New Jersey Turnpike, along with nearby amenities such as the Ellisburg Shopping Center, The Cherry Hill Mall and The Promenade at Sagemore.
WCRE is also serving as the leasing and management agent for the property.