According to Markeim Chalmers, the sale closed on May 23, with the Red Eagle Company selling the site and liquor license for $2.2 million.
A local developer has purchased the property containing the former Red Eagle Tavern on Chapel Avenue in Cherry Hill.
Markeim Chalmers announced on Tuesday a local developer purchased the facility for $2.2 million from the Red Eagle Company. The sale includes both the retail site and the liquor license. The sale closed on May 23, just weeks after the tavern closed in April.
A release from Markeim Chalmers said the property was purchased on speculation for future development. The property is located on 2.5 acres at the corner of Route 38 and Chapel Avenue less than a mile from the Cherry Hill Mall and Garden State Marketplace.
Fred Berlinsky and Kevin Burns of Markeim Chalmers represented both parties in the transaction. For more information contact Berlinsky at (856) 324–5190 or berlinsky@markeim.com or Burns at (856) 324–5191 or kburns@markeim.com.
