Newmark Associates Inc., based in the Cedar Knolls section of Hanover Township, acted as the exclusive brokerage company for the sale of the former Macy's store located at 2501 Mt. Holly Rd., in Burlington.
According to the announcement, Burlington NJ LLC, a real estate investment division of Las Vegas-based firm Moonbeam Capital Investments LLC, purchased the property.
Moonbeam Capital Investments, owner of the Burlington Center Mall, Diamond REI and J.S. Hovnanian & Sons, recently announced a joint venture to redevelop the Burlington Center Mall and adjacent land.
The project will consist of over 150 acres of prime land development and 1.5 million square feet of retail space. More than 300,000 square feet have already been committed or occupied. Newmark Associates' David Bieber, Esq., and Craig Levitan, represented both the seller and the buyer in the sales transaction, the company said in a statement.