Merchantville, NJ – May 22, 2008 – Metro Commercial, the region’s largest full-service retail real estate firm, hosted a groundbreaking ceremony this week as construction kicked-off on the Renaissance Building, a $3 million commercial redevelopment project in historic Merchantville, NJ.
The new 8,000-square-foot building is expected to be completed by September 30, 2008. Michael Gorman of Metro Commercial is representing the developer, RLC III, LLC in the facility’s lease transactions.
The Renaissance Building, which is being developed on the corner of Maple Avenue and Chapel Avenue, is the former site of a gas station, nursing home and dentist’s office. It stretches nearly half the block on a .8-acre lot. PNC is moving from its Merchantville location on South Centre Street to its new home early next year. “The new facility is going to provide excellent visibility from the street,” says Gorman. “It’s also going to allow PNC greater accessibility that will enable them to better serve their customers.”
The Renaissance Building has nearly 4,000 square feet of space available for one to three retailers. When completed, the beautiful limestone and brick building will match the town’s surrounding historic structures.
The project is part of an ongoing effort to revitalize Merchantville and the Camden County area. “We are personally committed to revitalizing and investing in this community,” says Ed McLoughlin of RLC III, who has his sights set on at least one other redevelopment project in town.
Rudolph Celli of RLC III, LLC was master of ceremonies at the groundbreaking event. Senator Diane Allen, Merchantville’s Mayor Frank North, and PNC Branch Manager Michael Peacock also attended the event.
