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Dunne and team complete $22.5m Gloucester sale.


Jeffrey Dunne, leader of the CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2.  tri-state investment team, and Ryan Bassett recently represented Gloucester Property Development LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 in the disposition of Gloucester Town Center in Gloucester, N.J. for $22.5 million or $207 per s/f.

Mr. Dunne and Mr. Bassett were also responsible for procuring the buyer, Inland Real Estate Acquisitions.

Gloucester Town Center is a 108,562 s/f retail shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into  located approximately 16 miles southeast of Philadelphia and one mile east of the Atlantic City Expressway The Atlantic City Expressway (officially numbered, but unsigned, as Route 446) is a controlled-access toll road in New Jersey, managed and operated by the South Jersey Transportation Authority.  in Gloucester township, Camden county Camden County can refer to:
  • Camden County, New Jersey
  • Camden County, North Carolina
  • Camden County, Missouri
  • Camden County, Georgia
  • A fictional county in an unspecified state where the television series My Name Is Earl takes place
. The newly constructed center is anchored by a ground lease with Acme Markets (57,560 s/f), complemented by smaller national tenants including Blockbuster Video, Columbia Bank, Hallmark, AT&T Wireless, Subway, H&R Block and Super Cuts. The initial occupancy of the center began in 2003 and has limited tenant lease expirations until 2013.

Jeff Dunne commented that, "An exceptional tenant roster, dominant anchor tenant, stable cash flow and minimal lease expirations coupled with an excellent long term outlook on the region made the sale of this asset highly competitive. Inland has acquired an extremely well located center with an abundance of both residential and commercial development in the immediate area, which should augment tenant sales and rents over time."
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Title Annotation:Jeffrey Dunne and Ryan Bassett represented Gloucester Property Development LLC
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 13, 2005
Words:210
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