Plymouth Meeting, PA, September 25, 2023 – Equity Retail Brokers recently procured the sale of Pomona Towne Center on West White Horse Pike in Galloway, NJ. The 27,108 square foot neighborhood shopping center is considered a necessity-based retail destination, with strong long-term occupancy and the presence of “Internet-proof” tenants.
The sale delivered outstanding value for the seller, enhanced by the subdivision of a development site in the parking lot. Retail shopping center specialist David DeRienzo represented the seller, a New Jersey-based private ownership group. The buyer was an investor familiar with the Southern New Jersey market.
“The property’s potential for rental growth, driven by ongoing development along White Horse Pike and the proposed fast-food restaurant on the adjacent lot, further underscores its value proposition,” DeRienzo said. “With limited competition from neighboring retail centers, this sale exemplifies Equity Retail’s dedication to providing exceptional value to both sellers and investors.”
Since Equity Retail Brokers was founded nearly 30 years ago, the company has provided its clients with expert capital markets real estate services. The team focuses on delivering the highest net price to the seller with the greatest certainty of closing. Equity Retail Brokers prides itself on client–broker relationships that extend past the closing table.
For more information, please contact David DeRienzo at 484.417.2214, dderienzo@equityretailbrokers.com.