White Marsh Shopping Center sells for $4.1M
Shopping center has storage and retail space
White Marsh Shopping Center in Gloucester County has sold for $4.1 million to Nexus Capital LLC.
The seller of the property was White Marsh Properties LLC, which was the owner for more than 40 years.
The shopping center, first developed in 1961, has 110,029 square feet, which includes 15,046 square feet of mini storage units and 94,983 square feet of retail space, including Bubba’s Shrimp Shack, Moody’s Event Center and others. The center is about six miles north of the George P. Coleman Memorial Bridge.
Janet Moore, with Berkshire Hathaway Home Services, who represented the seller, said the center was home to long-term local businesses and the owner was passionate about promoting aspiring entrepreneurs.
At the time of the purchase, the shopping center was 96% leased and days later, 99% was leased, with one vacancy remaining.
Kevin E. Cox ,with Porter Realty Co., represented the buyer.