One community activist has pledged to appeal, saying there's an alternate plan for the building that would create jobs for residents in Camden, one of the nation's poorest cities.
The building served as a Sears department store from 1927 until 1971.
Campbell Soup is the sole remaining Fortune 500 company in Camden. It considered moving elsewhere but agreed in 2007 to remain and redevelop a swath of the city as an office park.
A Campbell spokesman said the company is happy with Tuesday's ruling.