Cherry Hill shopping center may get a facelift and new stores under new ownership

The Barclay Farms Shopping Center in Cherry Hill has a new owner.

The center, previously owned by Kaiserman Co. Inc. for over 30 years, was acquired Aug. 24 by Bergman Real Estate Group and Capstone Realty Group USA for $16.1 million.

“What initially attracted us to the site was its undeniable old-world charm, evoking nostalgic memories of your neighborhood shopping center,” Michael Bergman, president and CEO of Bergman Real Estate Group, said in a news release.

The acquisition is the first foray into retail for the Bergman group, which is based in New Jersey and has at least 18 office buildings in the state, according to the company website. The move is part of the company’s plan to expand its commercial real estate offerings, according to the sale news release.

“We loved our tenants. They were part of our family,” said Max Kaiserman, director of marketing and revenue for Kaiserman Co. Inc.

The company sold the location as part of its efforts to focus on multifamily properties, which has been Kaiserman’s “expertise,” he said.

Barclay Farms Shopping Center, located on Route 70 East, has in recent years been the site of a battle over plans to construct a Wawa convenience store. Last year, community members won their fight to keep out the proposed 24-hour store, which would have included a gas station. In addition to other gas stations, Wawa has at least a half-dozen stores, most with gasoline service, in Cherry Hill.

“Getting gas in Cherry Hill is not exactly a problem,” Martha Wright, a spokesperson for Preserve Barclay, a neighborhood group that opposed the Wawa development, said Monday.

Wright said she and her Cherry Hill neighbors are “cautiously optimistic” about the sale of Barclay Farms. Preserve Barclay first became aware of the new owners in July when a resident who issued a complaint with the township learned that a change of ownership notice had been filed for the shopping center.

The Bergman group already owns an office building nearby, and “it’s well maintained and a good neighbor,” Wright said.

The new owners plan to bring retail options, as well as medical offices to the 87,750-square-foot shopping center. Currently, 96% of the lots are filled; existing businesses include Planet Fitness, Dollar Tree, and the UPS Store.

There is also potential to expand the center itself with further development, according to Capstone.

“The development could accommodate a boutique supermarket or grocer, a discount wine or liquor center,” said Brad Gillman, managing partner of Capstone in the sale news release.

The new owners are planning upgrades to the center including work on facades, lighting, signage, landscaping, the parking lot, and sidewalk.

The plaza was developed by Robert Scarborough in the 1950s with signature red bricks as a modern take on colonial architecture at the time, Wright said. But decades later, some upgrades are needed.

“It could use a refresh,” she said.