The Palomar Group Facilitates Sale of Carll’s Corner in Bridgeton, New Jersey

The Palomar Group is pleased to announce the successful sale of Carll’s Corner, a value-add retail center located at 9-43 Cornwell Drive in Bridgeton, New Jersey. The property was sold by a publicly traded REIT to a local buyer who owns another center in the market.

At the time of sale, the center was 61% vacant, presenting significant upside potential for the buyer. Despite the vacancy, the property features a strong lineup of national tenants including Verizon, Davita Dialysis, Hair Cuttery, Pizza Hut, and a new 10-year Planet Fitness lease. The transaction was completed through a successful Ten-X auction process.

“This was a successful auction process that we sold for a long-time client of ours. The buyer was an investor that would have been missed with a traditional marketing process. However, with our Palomar process, we were scouring the local market. We reached out to owners in the market and the ultimate auction winner ended up being a buyer who owns in the market,” said Steve Collins, Partner at The Palomar Group.

Palomar Group represented the seller in the transaction.

About The Palomar Group:

Headquartered in Augusta, GA, The Palomar Group is a full-service commercial investment sales firm specializing in the sale of single-tenant, multi-tenant, and multifamily properties across the United States. With a proven track record of over $1.5 billion in transactions spanning 20 states and 13.5 million square feet of retail and multifamily properties, The Palomar Group is dedicated to delivering exceptional results for its clients.