A former catering hall in Glassboro has sold, with the buyer intending a redevelopment project, according to real estate firm Vantage Commercial.
The Cherry Hill-based firm said the mixed-use property at 50 S. Academy St. also includes an attached residence and detached facility formerly used as a hair salon and garage. The redevelopment would make the property into something that better fits the neighborhood and needs of the community, Vantage said.
Mike Gries, sales associate, represented the seller, an estate, which was aided by Bluestone Commercial Capital. Neither the buyer nor the seller was disclosed; nor were financial terms of the transaction.
“The property is a sunny plot less than a mile from rapidly expanding Rowan University,” Gries said in a prepared statement. “It is a natural redevelopment opportunity for the buyers. I am happy to have delivered for my client, and I look forward to seeing the buyers breathe new life into the property.”
