JLL Capital Markets announced on Monday that it has completed the sale of Deptford Landing, a fully leased 517,096 square foot shopping center anchored by a global discount department store and its associated members-only retail warehouse club in the community. of Deptford, in southern New Jersey.
JLL marketed the property on behalf of the seller. Wharton Realty Group acquired the asset.
Deptford Landing’s range of successful tenants is dominated by national tenants including one of the world’s largest retailers as anchor tenants with DSW, Michaels, Five Below, PetSmart, Raymour’s Furniture, The Mattress Factory, Hand & Stone, Carter’s, Five Guys, Great Clips, Chipotle and National Vision.
Located on 67.33 acres at 2000 Clements Bridge Rd. About 12 miles from downtown Philadelphia, Deptford Landing sits along NJ-42, one of the area’s busiest roads, and can be seen by more than 107,000 vehicles per day. The property has easy connectivity to highways 76 and 295 and serves a commercial area that includes 82,467 residents within a three-mile radius.
The JLL Capital Markets team representing the seller was led by Jose Cruz, Chris Munley, Steve Simonelli, JB Bruno, Jim Galbally, Colin Behr and Austin Pierce.
“Deptford Landing has been well received by the investment community, with multiple offers coming in from both private and institutional investors,” Cruz said.