{"id":1004672523,"date":"2023-07-18T06:24:19","date_gmt":"2023-07-18T14:24:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004672523"},"modified":"2023-07-18T06:25:27","modified_gmt":"2023-07-18T14:25:27","slug":"urban-edge-properties-signs-philly-area-tenant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/","title":{"rendered":"Urban Edge Properties Signs Philly-Area Tenant"},"content":{"rendered":"
\"The

The Plaza at Cherry Hill. Image courtesy of Urban Edge Properties<\/em><\/p><\/div>\n

Savers<\/strong> has signed a lease at Urban Edge Properties\u2019<\/strong> Plaza at Cherry Hill, a nearly 422,000-square-foot retail center in Cherry Hill, N.J. The company committed to more than 25,000 square feet for its third store in Greater Philadelphia.<\/p>\n

The deal brought the shopping center to 82 percent occupancy. Metro Commercial Real Estate<\/strong>‘s Rob Cooper and Shane Hart, together with Spence Mehl of RCS Real Estate Advisors<\/strong>, represented Urban Edge; Stephen Carrozza of Metro Commercial Real Estate \u202fworked on behalf of the tenant.<\/p>\n

Urban Edge acquired Plaza at Cherry Hill in 2017 for $51.2 million, according to CommercialEdge data. The 1968-built shopping center is set to undergo renovations that will include upgrades to the fa\u00e7ade, landscape and parking lot.<\/p>\n

Total Wine & More, Aldi, LA Fitness and Raymour & Flanigan anchor the property; the former recently leased more than 43,000 square feet at the location. The super-regional Cherry Hill Mall serves as shadow-anchor.<\/p>\n

Situated on more than 42 acres at 2100 Route 38, the shopping center is 9 miles east of downtown Philadelphia. There are roughly 43,800 households within a 3-mile radius, earning on average more than $77,000.<\/p>\n

Urban Edge currently owns 76 retail real estate properties totaling 17.2 million square feet. Earlier this year, the REIT obtained $290 million for the refinancing of a 1 million-square-foot mall in Paramus, N.J.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The REIT acquired the asset in 2017 for more than $51 million.<\/p>\n","protected":false},"author":436,"featured_media":1004672526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,10,1494,21749],"tags":[37627,33593],"class_list":["post-1004672523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-northeast","category-philadelphia","category-retail","tag-metro-commercial-real-estate","tag-urban-edge-properties"],"acf":[],"yoast_head":"\nUrban Edge Properties Signs Philly-Area Tenant - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Savers has signed a lease at Urban Edge Properties\u2019 Plaza at Cherry Hill, a nearly 422,000-square-foot retail center in Cherry Hill, N.J.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Urban Edge Properties Signs Philly-Area Tenant\" \/>\n<meta property=\"og:description\" content=\"Savers has signed a lease at Urban Edge Properties\u2019 Plaza at Cherry Hill, a nearly 422,000-square-foot retail center in Cherry Hill, N.J.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-18T14:24:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-18T14:25:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/The-Plaza-at-Cherry-Hill.-Image-courtesy-of-Urban-Edge-Properties.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/\",\"name\":\"Urban Edge Properties Signs Philly-Area Tenant - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/The-Plaza-at-Cherry-Hill.-Image-courtesy-of-Urban-Edge-Properties.png\",\"datePublished\":\"2023-07-18T14:24:19+00:00\",\"dateModified\":\"2023-07-18T14:25:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e376ba4add70694b922380ddbe946d8\"},\"description\":\"Savers has signed a lease at Urban Edge Properties\u2019 Plaza at Cherry Hill, a nearly 422,000-square-foot retail center in Cherry Hill, N.J.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/urban-edge-properties-signs-philly-area-tenant\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/The-Plaza-at-Cherry-Hill.-Image-courtesy-of-Urban-Edge-Properties.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/The-Plaza-at-Cherry-Hill.-Image-courtesy-of-Urban-Edge-Properties.png\",\"width\":800,\"height\":620,\"caption\":\"The Plaza at Cherry Hill. 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