Markeim Chalmers has sold the Bank of America Plaza on Route 38 at Larchmont Boulevard in Mt. Laurel for $8,200,000 to a private buyer.
At the time of sale, the 40,000 SF retail center was approximately 80 percent occupied and the cap rate was roughly 7.25 percent. It is anchored by a number of strong tenants, including Bank of America, Saladworks, AtlantiCare Urgent Care among others.
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As a result of an aggressive leasing plan and well-marketed efforts executed by the Markeim Chalmers team, the center was re-tenanted over the past couple years, increasing the property value and ultimately leading to its sale.
For more information contact Seth Hersh at Markeim Chalmers at shersh@markeim.com or (856) 324–5192.
