A 157,000-square-foot shopping center in Clementon, New Jersey, has entered the market for sale. Marketplace at Chews Landing, a ShopRite-anchored retail property, could attract offers near $30 million.
Located at 1200 Chews Landing Road, the shopping center is owned by Regis Cos., a family-owned real estate firm. The Lakewood-based company acquired the property in 2016 and is now repositioning its investment portfolio.
Regis plans to concentrate its real estate holdings closer to its headquarters in Lakewood. Consequently, the company is marketing the Camden County property through CBRE as part of its capital recycling strategy.
Marketplace at Chews Landing currently maintains 98% occupancy, consistent with its historical performance. The shopping center features a diverse mix of national and regional tenants.
ShopRite serves as the property’s primary grocery anchor. Additional tenants include Dunkin’, Mavis Discount Tires, Inspira Health, Urge Fitness, and Dollar General.
Notably, the shopping center has maintained a grocery store tenant continuously for approximately 30 years. This established retail presence supports consistent customer traffic and long-term tenant demand.
Furthermore, tenants at Marketplace at Chews Landing have a weighted-average operating tenure of 21 years. The lengthy occupancy history highlights the property’s established tenant relationships.
Although Regis has not established an official asking price, CBRE indicated the property could sell for approximately $30 million. That valuation would represent roughly $191 per square foot.
The potential sale reflects continued investor interest in grocery-anchored retail properties throughout South Jersey. Shopping centers featuring essential retailers and service-oriented businesses can provide diversified income opportunities.
Additionally, properties with strong occupancy and long-standing tenants may appeal to investors seeking established retail assets. Grocery anchors can also attract regular customer visits that benefit surrounding businesses.
For Camden County’s commercial real estate market, the listing represents another notable retail investment opportunity. Marketplace at Chews Landing combines substantial square footage, high occupancy, and an established location.
As Regis Cos. continues consolidating its portfolio, the potential transaction could introduce new ownership to one of Clementon’s established shopping centers.
*Article courtesy of Philadelphia Business Journal
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