Fully-leased 8,000 sq. ft. retail strip center in Blackwood trades for $1.45M

Diamond Capital LLC purchased an 8,000-square-foot retail strip center in Blackwood for $1.45 million, according to an announcement from Marlton-based Rose Commercial Real Estate.

Located at 1031 Little Gloucester Road, at the signalized intersection on Blackwood Clementon Road, the property has more than 170 feet of frontage on the heavily traveled corridor.

Alan Sussman, director of investment sales at Rose, handled the marketing of the property for seller Mayayz Properties LLC.

Built in 1990, the fully leased property, which has seven long-term tenants and ample parking, sold in less than a week after coming to market for an 8% cap. The per square foot sale price was approximately 18% higher than the average for other comparable listings in the area.