BETHEL BAPTIST CHURCH CENTER IN CHERRY HILL, NJ IS SOLD TO JEWISH FEDERATION OF SOUTHERN NEW JERSEY
Buyer and Seller Make Big Plans, Share a Spirit of Cooperation
May 19, 2014 – Marlton, NJ – Wolf Commercial Real Estate (WCRE) is pleased to announce the successful sale of Bethel Baptist Church’s Shining Lights Early Learning Center at 1721 Springdale Road in Cherry Hill, NJ to The Jewish Federation of Southern NJ. This unique property comprises a 21,325 +/- square-foot school building with a full gym, stage, and kitchen, situated on a parcel of 18+/- acres. This prime and highly visible property is located on Springdale Road in the desirableeast side of Cherry Hill. Leor Hemo, executive vice president, WCRE, represented the seller, while the firm’s director of business development, Scott Seligman represented the buyer in this transaction.
Both the buyer and seller are excited about what this transaction means for their future plans. The Jewish Federation of Southern New Jersey intends to expand its community outreach and services through this acquisition, while Bethel Baptist Church plans to use the proceeds from this sale to help fund the construction of a new state-of-the-art daycare facility for Shining Lights Early Learning Center and an 8000 square-foot multipurpose expansion to the church on its primary property across Springdale Road. Both will be built by Big Sky Enterprises, LLC.
The parties were also pleased to have the opportunity to work together for their mutual benefit, and that of the broader community. Said Mike Moran, business administrator of Bethel Baptist, “God has provided both organizations the opportunity to enhance our current and future programs. WCRE has been instrumental in making this happen, professionally representing the interest of our church. We want to thank them for walking us through this process and ensuring that this property, which we have been blessed to use, will continued to be used for our community in a significant way.”
Brad A. Molotsky, president, Jewish Community Properties (the acquiring entity) added, “It has truly been a pleasure to collaborate with Bethel Baptist on this transaction. Responsive, fair, reasonable, professional, and very knowledgeable are just some of the adjectives I would use to describe their team and the process. We look forward to continuing and expanding upon our relationship with the church and to doing more mutually beneficial programming together in the future.”
WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.
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