Wheeler Real Estate Investment Trust announced it has closed on the acquisition of Winslow Plaza, a 40,695-square-foot shopping center in Berlin-Cross Keys Road in Sicklerville, N.J., located 21 miles south of Philadelphia and just east of the Atlantic City Expressway. The purchase price was around $6.6 million, or $162 per leasable square foot. The property was purchased through a combination of cash and debt.

The acquisition of this shopping center near the Atlantic City Expressway, a major thoroughfare connecting the Philadelphia metropolitan area with Atlantic City, marks Wheeler’s first geographic presence in the state of New Jersey.

Wheeler is nearing the end of its first year operating as a public company, and the acquisition of Winslow Plaza brings the company’s property portfolio to more than 1 million square feet of gross leasable area.

Wheeler is headquartered in Virginia Beach, Va., and specializes in owning, acquiring, financing, developing, renovating, leasing, and managing income-producing assets, including community centers, neighborhood centers, strip centers, and freestanding retail properties. The company’s portfolio contains strategically selected properties that are mainly leased by nationally and regionally recognized consumer goods retailers located in the Mid-Atlantic, Southeast, and Southwest regions of the U.S.

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