Vantage Commercial Facilitates Acquisition of 29,000 SF Multi-Tenant Complex
Cherry Hill, NJ [November 6, 2020] – Vantage Commercial is pleased to announce the sale of a multi-tenant flex complex, Warren Plaza, located at 1205 Warren Avenue, Cherry Hill, New Jersey. An established real estate investment firm acquired the 30,000 SF building from Scialabba Properties for an undisclosed sum. The New York-based investment firm plans to fill the remaining vacancies with retail, wholesalers, and service-oriented tenants, some that have a warehouse requirement similar to the existing tenant Lumber Liquidators.
Corinne Giletto, Senior Advisor, Ken Richardson, Senior Advisor, and Monica Walsh, Director of Client Services at Vantage Commercial, represented both the buyer and seller in this transaction.
“There is an incredible opportunity for attracting new tenants to this flex space in Cherry Hill. It services a densely populated residential area with high product demands,” Richardson said.
Giletto added, “There is an extremely low supply of this type of inventory in Cherry Hill along the route 70 corridor with close connectivity to Philadelphia. This makes the property a valuable location for retailers and wholesalers.”
Vantage Commercial will work with new ownership to lease the remaining spaces. Vantage Commercial can deliver 18,500 SF of contiguous space within the next 30 days or 24,000 SF of contingous space within the next 10 months. The building boasts multiple drive-in bays, two street entrances connecting to Route 70 (Warren Avenue and Wynnwood Avenue), and 16-18 foot ceiling heights throughout the entire building. New ownership expressed confidence in Vantage Commercial’s capabilities to lease the remaining spaces, stating, “Your team has the market knowledge, business experience, energy and charisma necessary to get the job done”.