Yates Plaza, a 50-plus-year family-owned strip mall in Tabernacle, recently sold for $1.15 million, according to a Wednesday announcement from Rose Commercial Real Estate, which helped negotiate the sale.
Alan Sussman, director of investment sales with Rose Commercial, brokered the transaction, which closed in mid-February.
Located on the heavily traveled Route 206 between Route 70 and Medford Lakes Road at 1572 & 1576 Route 206, the 13,656-square-foot retail strip center was an attractive investment, drawing a number of potential buyers and ultimately selling to a local South Jersey restaurateur.
At the time of sale, Yates Plaza was approximately 70% occupied, with many tenants having been in place for greater than 20 years.
