The seller was represented by Paul Rumley and Kurt Rumley of Metro Commercial's Mt. Laurel, NJ office. Further details of the transaction, including the sale price, were not released.
"The property was a very secure investment opportunity that matched the buyer's investment criteria," says Paul Rumley. "It is positioned for the future as it is situated in an area that is experiencing rapid commercial and residential growth."
Located at 5 Stouts Ln. at the intersection of Route 1, Heritage Square's development traces to early 2004, with actual construction starting in early 2006 and the property delivered to market a year ago. Its anchor line-up was effectively set in mid-2006, consisting of Target for 120,000 sf, Best Buy for 30,000 sf, Staples for 20,400 sf and PetSmart for 15,000 sf.
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