Voorhees, N.J. — Montana Property Group has acquired Echelon Village Plaza, an 84,933-square-foot retail center located in Voorhees. SITE Centers sold the property for $8.5 million. Tenants at the center include Edge Fitness, Dollar Tree and Buffalo Wild Wings. Atlantic Retail represented the seller in the transaction.
Hamilton Township, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Hamilton Marketplace, a 485,094-square-foot shopping center located in Hamilton Township. A 65,155-square-foot ShopRite anchors the property, which was constructed in phases beginning in the early 2000s. Other tenants at the center include Kohl’s, Ross Dress for Less, Staples, Barnes & Noble, Michaels, Old Navy, Ulta Beauty, Burlington and PetSmart. Paramount Realty acquired the property from SITE Centers for $116.5 million. Brad Nathanson and JP Colussi of IPA represented the seller in the …
Clifton, N.J. — Cronheim Mortgage has arranged a $20 million loan for the refinancing of Styertowne Shopping Center, a 236,000-square-foot retail center located in the Northern New Jersey community of Clifton. Stew Leonard’s Farm Fresh Food & Wine anchors the property, which was originally built in 1949. Other tenants at the center include Michaels, Planet Fitness, Dollar Tree and GNC. Andrew Stewart, Dev Morris and Brandon Szwalbenest of Cronheim secured the 10-year loan through Reinsurance Group of America on behalf of the undisclosed borrower.
Newark, N.J. — New Jersey-based PGIM Real Estate has sold a portfolio of seven grocery-anchored shopping centers in Florida. An undisclosed buyer purchased the portfolio, which comprises a total of 608,314 square feet of retail space, for $223.9 million. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented PGIM in the disposition. Properties in the portfolio include Crestwood Square in Royal Palm Beach; Davie Shopping Center and Regency Square in Davie; Gladiolus Gateway in Fort Myers; Town Center at Orange Lake and Village Shops at Bellalago in Kissimmee; …
Galloway, N.J. — Cushman & Wakefield has arranged the sale of Smithville Square, a 106,931-square-foot retail center located in Galloway. Western Building Co. acquired the property for $13.7 million. Frank DiTomasso, Andy Schwartz, Jordan Sobel, Max Helfman, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, P3 Properties, in the transaction. Situated on 26 acres, the center was 97 percent leased to 19 tenants, including Curexa Pharmacy, at the time of sale.
Fair Lawn, N.J. —TFE Properties has acquired River Road Shopping Center, a 93,000-square-foot retail center located in Fair Lawn. Situated on 6.3 acres, the property comprises an 18,825-square-foot single-tenant building occupied by Walgreens, an 18,900-square-foot multi-tenant building and a 54,000-square-foot building that was formerly occupied by grocer ShopRite. The new ownership plans to implement a value-add program at the center. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Ryan Robertson of JLL represented the seller, Bon-Marc Realty Co., in the transaction. TFE Properties was the buyer.
Waretown, N.J. — First National Realty Partners (FNRP) has acquired Waretown Town Center, an 87,735-square-foot retail center located in Waretown. A 60,800-square-foot ShopRite anchors the property, which is situated along the Jersey Shore Line. Other tenants at the center include Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips. Colin Behr and Chris Munley of CB Richard Ellis represented the undisclosed seller in the transaction. This marks FNRP’s seventh shopping center acquisition in New Jersey.
Cherry Hill, N.J. — Three new tenants have signed leases at Cherry Hill Mall, a 1.4 million-square-foot shopping center located in Cherry Hill in the greater Philadelphia area. Lacoste and Columbia Sportswear are scheduled to open at the property later this year, with Mango anticipated to open in summer 2025. PREIT owns and manages the center. Other tenants opening soon at the property include Alo Yoga, Kendra Scott, Dry Goods, Rowan, Signature Workspace, Kooma Asian Fusion and Sushi Bar and Inspiration Co.
Millville, N.J. — Irgang Group has signed leases with three new tenants at Union Lake Crossing, its 393,000-square-foot retail center in Millville. Bath & Body Works, AAA South Jersey and Jersey Mike’s will occupy 4,400; 1,945; and 1,500 square feet at the property, respectively. Mario Brunelli and Chelsea Reizner of R.J. Brunelli & Co. represented the landlord in the lease negotiations. Reizner and Brunelli also represented AAA South Jersey in negotiations. Jarrad Coletta of Coletta Commercial represented Jersey Mike’s, and Adam Rosenfarb of MSC represented Bath & Body Works. The new …
Paramus, N.J. — Cushman & Wakefield has brokered the $36.8 million sale of Paramus Plaza, a 153,494-square-foot shopping center located in Paramus in Northern New Jersey. The center was fully leased at the time of sale to tenants including Hobby Lobby, Marshalls, Ashley, Skechers and Chipotle Mexican Grill. Frank DiTommaso, Gary Gabriel, David Bernhaut, Andy Merin, Max Helfman and Mark Gilbert of Cushman & Wakefield represent the seller, a partnership between Acadia Realty Trust and Fortress Investment Group, in the transaction. Brad Domenico of Cushman & Wakefield arranged acquisition financing …
