By ROBERT LINNEHAN | The Cherry Hill Sun
A long vacant and highly trafficked piece of property was placed on the market this past week. The real estate firm representing the property’s owner approached the township to see what they would like to see at the site as well.
C.B. Richard Ellis — a worldwide corporate real estate firm — officially listed the old National Wholesale Liquidators property on the real estate market, looking to sell the 54,000-square-foot site, and have listed an initial asking price of $5.2 million, according to the firm. It works out to be $96 a square foot for the seven acre site.
Described as a “high trafficked area” which offers “excellent visibility” from motorists travelling along Route 70 and Brace Road, C.B. Richard Ellis representatives said the site is easily accessible from nearby Haddonfield, Moorestown and Philadelphia.
A large vacant building is still located on the site. Historically, it has housed National Wholesale Liquidators, a Pathmark, several other groceries, a dry cleaner and an automotive repair shop, among other businesses
Interest in the site has been extremely high, said James Galbally, the broker for C.B. Richard Ellis that is managing the property. Initially, he said he was expecting about four or five offers on the property. Instead, he said the offers have been in the “double digits.”
“We’ve had tons of interest so far. We’re even surprised at how much interest we’ve gotten,” he said.
The traffic counts along the site’s two bordering roads are unbelievable, he said, and offer tenants high visibility.
The site has been vacant for several years, Cherry Hill Chief of Staff Dan Keashen said.
Several C.B. Richard Ellis representatives met with Mayor Bernie Platt earlier last week to discuss his vision for what he sees at the site, Keashen said. It’s a very high profile location within Cherry Hill and whatever future tenant buys the property is guaranteed a high volume of traffic, he said.
“The mayor, knowing the heavy volume of traffic that flows through that area and its high profile, would like the buyer to develop something that fits the character of the town and the character of the area around it,” Keashen said. “He’d like it to possibly mirror some of the business at the Garden State Park or the mall. It would be a good site for high-end professional use, medical or educational, or something of that nature.”
The site also has recently fallen into disrepair, Keashen said.
