Cherry Hill’s Barclay Farms Shopping Center, once the subject of heated community opposition over a proposed Super Wawa, has officially changed hands. The property, now under new ownership, is poised for potential expansion and redevelopment.
The plaza, boasting a retail space spanning 87,750 square feet, has been acquired for $16.1 million by two prominent real estate firms, Bergman Real Estate Group and Capstone Realty Group USA.
Nestled at 1401 Marlton Pike, the shopping center currently houses establishments such as Planet Fitness, Dollar Tree, a variety of restaurants, and several retail outlets. The newly appointed owners, Bergman and Capstone, have outlined their vision for the property, emphasizing enhancements and updates to elevate its overall appeal. Their plans include renovations like facade upgrades, new monument signage, lighting improvements, landscaping enhancements, and the revitalization of parking lots and sidewalks, as detailed in their joint announcement.
While the future of the property is yet to be determined, the buyers’ announcement highlights a 45,000-square-foot parcel that is “primed for development.”
Capstone Managing Partner, Rob Friedberg, expressed the potential for expansion, saying, “We have a lot of flexibility to expand the center and accommodate additional retail and high-end medical office requirements. The development could accommodate a boutique supermarket or grocer, a discount wine or liquor center, and multiple freestanding pad sites.”
Notably, the contentious proposal to construct a Super Wawa at this location sparked an 18-month-long dispute, marked by vocal community opposition. The project, featuring a convenience store and 16 gas pumps across 43,560 square feet, faced resistance from residents of the Barclay Farm and Kingston Estates neighborhoods who voiced concerns over traffic congestion, noise pollution, and environmental impact. Organized opposition, led by the volunteer group Preserve Barclay, played a pivotal role in the withdrawal of Hortense Associates LP’s application for the Super Wawa project in December of the previous year. (Hortense Associates LP is a subsidiary of Kaiserman Company Inc., based in Philadelphia.)
Currently, Barclay Farms Shopping Center maintains an impressive occupancy rate of 96 percent. It also offers leasing opportunities for in-line units starting from 1,880 square feet and pad sites ranging from 2,000 to 6,000 square feet.
Bergman CEO Michael Bergman expressed the allure of the site, stating, “What initially attracted us to the site was its undeniable old-world charm, evoking nostalgic memories of your neighborhood shopping center that has that special character we all love. But, looking deeper, its vast expansion potential is what truly stood out — paving the way for diverse retail uses and even medical offices that we feel will create tremendous upside value.”
Bergman Real Estate Group, headquartered in Woodbridge, is renowned for its portfolio focused on office markets, comprising 22 buildings spanning 2.25 million square feet. Notably, the acquisition of Barclay Farms Shopping Center marks Bergman’s first venture into the retail sector. In contrast, Capstone Realty excels in enhancing commercial properties from distressed sellers, with a specialization in shopping centers and similar properties.
