A grocery-anchored shopping center in Cape May Court House sold for roughly $32 million, according to industry sources. Alpine Real Estate Partners, a New York-based investor, purchased the 163,000-square-foot Plaza at Cape May Court House from RW Partners. The sale price equals about $195 per square foot.

The center is anchored by Acme. Additionally, the property sits at 11 Court House S. Dennis Road along Route 9, near the Garden State Parkway and Stone Harbor Boulevard. The location is roughly four miles from Stone Harbor.

The shopping center is 89% occupied. Tenants include Staples, Chase Bank, Starbucks and TrueValue. RW Partners bought the property in 2016 for $27.4 million, or $167 per square foot, according to county records.

*Article courtesy of Philadelphia Business Journal

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