Cape May Court House Shopping Center Sold for $21M

A prominent shopping destination in Middle Township has been acquired in a deal worth $21 million, bringing new ownership to a retail center that's served Cape May County residents for more than five decades.

The Plaza at Cape May Court House, a 163,629-square-foot retail property, was purchased by Alpine Real Estate Partners, a New York-based investment firm. Cronheim Mortgage facilitated the transaction by securing permanent financing through a life insurance company lender.

The shopping center's anchor tenant, Acme, has maintained its presence at the location for 29 years, providing a stable foundation for the property. Originally constructed in 1971, the center underwent renovations in 2022 to modernize its facilities and appeal.

Beyond the grocery anchor, the plaza houses 16 additional businesses that cater to everyday needs and services for our community. The tenant roster features well-known national brands such as Starbucks Coffee, CVS/pharmacy, and Staples, alongside popular dining options like Jersey Mike's Subs. Financial services are represented by Chase Bank, while True Value Hardware serves local home improvement needs.

The financing package was structured as a fixed-rate permanent loan, providing long-term stability for the new ownership. Three Cronheim professionals—Brandon Szwalbenest, Dev Morris, and Andrew Stewart—worked together to complete the capital arrangement on Alpine Real Estate Partners' behalf.

The acquisition reflects continued investor confidence in Cape May County's retail market, particularly in properties with established tenant rosters and strong grocery anchors. For local shoppers, the ownership transition is expected to maintain business as usual at a center that's become a familiar part of the Middle Township landscape.