JLL Capital Markets said Monday it closed the sale of Deptford Landing, a fully leased, 517,096-square-foot retail power center anchored by a global discount department store and its related membership-only retail warehouse club in the South New Jersey community of Deptford.
JLL marketed the property on behalf of the seller. Wharton Realty Group acquired the asset.
Deptford Landing’s high-performing tenant lineup is dominated by national tenants, including the one of the world’s largest retailers as anchor tenants along with DSW, Michaels, Five Below, PetSmart, Raymour’s Furniture, The Mattress Factory, Hand & Stone, Carter’s, Five Guys, Great Clips, Chipotle and National Vision.
Positioned on 67.33 acres at 2000 Clements Bridge Rd. approximately 12 miles from downtown Philadelphia, Deptford Landing is along NJ-42, one of the most traveled roadways in the area, and visible to more than 107,000 vehicles per day. The property has easy connectivity to Interstates 76 and 295 and serves a trade 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, J.B. Bruno, Jim Galbally, Colin Behr and Austin Pierce.
“Deptford Landing was well received by the investment community, with multiple offers coming from both private and institutional investors,” Cruz said.
