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Rose Commercial Real Estate Hired to Sell Landmark Property - Cherry Hill

01/09/2013

The building that once housed Big John's Steaks and Pizza in Cherry Hill is for sale.

Big John’s Steaks and Pizza, a staple in Cherry Hill on Route 70 for more than 30 years, has left the township and relocated to Berlin Township.

The eatery known for its self-described “world famous” pickle bar served its last cheesesteak about three weeks ago, a local commercial real estate agent said. The Berlin store, on Route 73, opened about a year ago.

“I guess the restaurant in Cherry Hill was too big and they moved to a different location,” said Brett Davidoff of Evesham’s Rose Commercial Real Estate.

“It’s been a transition period, but they are still doing business, are still doing well, and are still a brand name,” Davidoff said.

The 4,000-square-foot-building in Cherry Hill sits on what Davidoff called a “prime location” on the highway near Interstate 295.

The asking price for the site is $1,099,000, the real estate broker said.

Property tax records indicate the site is owned by Joseph Ranieri of Moorestown. The assessed value of the building in 2012 was nearly $390,000.

Ranieri would not comment on the relocation.

“We’ve already had a lot of interest from users and developers,” Davidoff noted.

“We’ve had a lot of in-depth talks, and I would expect something to happen in the first quarter of the New Year.

“I don’t anticipate it being on the market very long.”

Township spokeswoman Bridget Palmer called Big John’s a “landmark.”

“We’re sad to see it go. In this economy, however, (the closing) is part of a natural turnover. That is a great location, and I don’t think it will sit vacant for long.

“And it’s not like we have a shortage of cheesesteak and pizza places in town,” Palmer added.

Several large commercial parcels remain vacant in the township, including retailer Syms on Route 70, the former Genuardi’s in the Ellisburg Shopping Center and the iconic Baker Lanes on Cuthbert Boulevard.

“We’re waiting to see what happens with the Genuardi’s, and we’re now hearing about a strong interest in Baker Lanes,” Palmer said.

“We’re hopeful to see a lot of new movement in the township in 2013.”

http://www.courierpostonline.com/apps/pbcs.dll/article?AID=2012312210039&nclick_check=1

01/09/2013 - 16:29

Source

Rose Commercial Real Estate

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