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Hazlet Town Center
Grocery-anchoredInvestment salesNew JerseyNews

CBRE Arranges $44 Million Sale of Shopping Center in Hazlet, New Jersey

by Abby Cox

Hazlet, N.J. — CBRE has arranged the $44 million sale of Hazlet Town Center, a 190,000-square-foot shopping center located in Hazlet, approximately 40 miles outside New York City. The center — which is anchored by ALDI — was 90 percent leased to tenants including Burlington and Urban Air at the time of sale. The center also features a Wawa outparcel, which was not included in the sale. Jeffrey Dunne, David Gavin and Travis Langer of CBRE  represented the seller, OASG Hazlet LLC, an affiliate of Onyx Equities, in the 1031-exchange transaction. …

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LeasingNew JerseyNews

Five New Tenants Join The Promenade Shops at Clifton Near New York City

by Abby Cox

Clifton, N.J. — Five new tenants have signed leases to join The Promenade Shops at Clifton, a 160,000-square-foot shopping center located in Clifton, roughly 10 miles west of New York City. Sephora, J. Alexander’s, Paris Baguette and VIO Med Spa have already opened at the property, with Ann Taylor scheduled to open a factory outlet at the center in October 2025. Additionally, four existing tenants at the center — Chicos, LA Fitness, PNC Bank and CityMD — have extended their leases. The shopping center — which opened in 2008 — …

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FinanceNew JerseyNews

Cronheim Mortgage Facilitates $31 Million Financing for Shopping Center in Philadelphia Suburb

by Abby Cox

Burlington, N.J. — Cronheim Mortgage has facilitated a $31 million financing for Liberty Square Center, a 358,000-square-foot shopping center located in the Philadelphia suburb of Burlington. An affiliate of National Realty and Development Corp. is the borrower. The 10-year loan features a 30-year amortization period and a step-down prepayment structure. Brandon Szwalbenest, Dev Morris and Andrew Stewart of Cronheim secured the financing through a life insurance company on behalf of the borrower. Liberty Square Center is anchored by a Walmart Supercenter. Additional tenants at the property, which was 99.5 percent …

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The Shops at Brick
Investment salesNew JerseyNews

TFE Properties Acquires 103,832-Square-Foot Shopping Center in Brick, New Jersey

by Abby Cox

Brick, New Jersey — East Windsor, New Jersey-based TFE Properties has acquired The Shops at Brick, a 103,832-square-foot shopping center located in Brick. Bonefish Grill and McDonald’s are tenants at the property. Tenant spaces ranging from 1,700 square feet to 35,000 square feet are vacant and available for lease. Additionally, the property’s former ALDI and Big Lots stores comprise more than 50,000 square feet of vacant space for use. TFE Properties plans to upgrade the building façade. This sale marks the fifth property TFE Properties has acquired in Brick. Kevin …

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Legacy One
LeasingNew JerseyNews

Three Retail Tenants Sign Leases at Mixed-Use Development in East Brunswick, New Jersey

by Abby Cox

East Brunswick, N.J. — Three new tenants have signed leases at Legacy Place, a mixed-use development in East Brunswick. Bonesse’s Tomato Apizza, H20 Henna Hues Organic and Kumon will occupy 3,010; 1,700; and 1,360 square feet at the property, respectively. The businesses will be situated on the ground floor of the development’s mid-rise apartment building at One Legacy Place. One retail space is still available for lease. Its sister building, Two Legacy Place, is currently under development and will include 9,000 square feet of additional retail leasing opportunities. Michael Gartenberg of Garden …

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Quakerbridge Shoppes
Investment salesNew JerseyNews

Marcus & Millichap Facilitates $8.3 Million Sale of Retail Center in Hamilton Township, New Jersey

by Abby Cox

Hamilton Township, N.J. — Marcus & Millichap has facilitated the $8.3 million sale of Quakerbridge Shoppes located in Hamilton Township, a suburb of Trenton. The retail center — which totals 42,912 square feet and sits on roughly five acres — houses 18 tenants including Northfield Bank and Villa Maria Restaurant. Alan Cafiero and Brent Hyldahl of Marcus & Millichap marketed the property on behalf of the undisclosed seller and procured the buyer in the transaction. 

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Investment salesNew JerseyNews

Marcus & Millichap Arranges Sale of Retail Center in Middletown Township, New Jersey, for $5.8 Million

by Abby Cox

Middletown Township, N.J. — Marcus & Millichap has arranged the $5.8 million sale of a retail center located in Middletown Township, roughly 44 miles outside New York City. Benjamin Moore Paints anchors the 29,411-square-foot center, which houses 10 tenants and sits on 1.9 acres. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap marketed the property on behalf of the undisclosed seller and procured the buyer in the transaction.   

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Morris Marketplace
DevelopmentGrocery-anchoredInvestment salesNew JerseyNews

IPA Brokers Sale of 85,513-Square-Foot Shopping Center in Northern New Jersey

by Abby Cox

Morristown, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Morris Marketplace, a newly developed 85,513-square-foot shopping center located in Morristown, roughly 25 miles west of New York City. The center, which is shadow-anchored by Lidl Supermarket and Burlington, was fully leased at the time of sale with more than 35 restaurant and service-oriented tenants, including Wells Fargo and Panda Express. Brad Nathanson and JP Colussi of IPA represented the seller and developer, DeVimy Equities, and procured the Ohio-based buyer, Last Mile …

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Wyomissing Wawa
Grocery-anchoredInvestment salesNew JerseyNewsPennsylvania

CBRE Arranges $14.7 Million Sale of Three Retail Properties in Suburban Philadelphia

by Abby Cox

Wyomissing, Pa and Voorhees Township, N.J. — CBRE has arranged the sale of three retail properties located in Wyomissing and Voorhees Township, totaling approximately $14.7 million. The properties include a stand-alone Wawa convenience store and gas station in Wyomissing and two retail centers at Cedar Hill Shopping Center in Voorhees Township. The Wawa location — which sold for $7.37 million — totals 5,051 square feet and is situated in The Knitting Mills, a 54-acre mixed-use redevelopment project in Wyomissing that houses UGI Energy Services’ Corporate Headquarters. The retail strip centers …

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Neptune Plaza
Company newsDevelopmentLeasingNew JerseyNews

Azarian Realty Opens 60,212-Square-Foot Hobby Lobby in Neptune City, New Jersey

by Abby Cox

Neptune City, N.J. — A new Hobby Lobby location has opened at Neptune Plaza in Neptune City. The arts and crafts retail store spans 60,212 square feet and is the junior anchor of the shopping center. Additional tenants at the center are The UPS Store, World Class ShopRite, IHOP, Visionworks and KPOT Korean BBQ. Neptune Plaza will undergo exterior renovations including new curbing, milling and repaving. Midland Park, N.J.-based Azarian Realty is the leasing and management agent for Neptune Plaza, which is 100 percent leased.

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