Phoenix and Bedminster, N.J. — Longpoint Partners has acquired two grocery-anchored shopping centers — El Monte Shopping Plaza in Phoenix and The Hills Village Center in Bedminster, New Jersey — for $62 million. Longpoint will manage the properties under its recently debuted Lena Centers brand. El Rancho Market IGA anchors El Monte Shopping Plaza, which totals 101,000 square feet. The property was 99 percent occupied at the time of sale. The Hills Village Center comprises 101,000 square feet. Kings Food Market anchors the center, which was 89 percent occupied at the …
North Bergen, N.J. — Marcus & Millichap has arranged the $6.4 million sale of Aaron’s Strip Center, an 18,130-square-foot retail center located in North Bergen. Aaron’s anchors the property, which was fully leased to six tenants at the time of sale. Alan Cafiero, Brent Hyldahl and Devin Perez of Marcus & Millichap represented the seller and procured the buyer in the transaction.
Mount Holly, N.J. —G.S. Wilcox & Co. has arranged a $12 million loan for the refinancing of Fair Ground Plaza, a 178,532-square-foot shopping center located in Mount Holly in southern New Jersey. The property was 90 percent leased at the time of the financing. Acme Markets anchors the center, and other tenants include Staples, Dollar Tree and Advance Auto Parts. David Fryer of G.S. Wilcox arranged the loan through an undisclosed life insurance company.
Voorhees, N.J. — CenterSquare has acquired Cedar Hill Shopping Center, a 16,891-square-foot retail center located in Voorhees, roughly 20 miles southeast of Philadelphia. Tenants at the property, which was fully leased at the time of sale, include Starbucks Coffee, Orange Theory, UPS, Great Clips, Vitamin Shoppe and AT&T. This marks CenterSquare’s first service property acquisition in metro Philadelphia.
Flemington, N.J. — Target will open a 75,500-square-foot store at Flemington Marketplace in Flemington, serving as an anchor tenant at the 239,000-square-foot retail center. Vanessa Kelty of Levin Management Corp. represented the landlord, a client of New York Life Real Estate Investors (NYLREI), in the lease negotiations. Jeff Howard of Ripco Real Estate served as the tenant broker. Target will occupy a former Burlington space at the center. Other tenants at the property include Kohl’s, Michaels, ALDI, Chili’s, Panera Bread, Hallmark, Verizon Wireless, Poke Café, Cold Stone Creamery and Nail Imagine …
Manasquan, N.J. — Private equity funds managed by Blackstone have agreed to acquire a majority ownership position in Jersey Mike’s Subs. The deal would value the Manasquan-based sandwich restaurant chain at around $8 billion, including debt, according to The Wall Street Journal. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. Blackstone says the partnership is intended to help Jersey Mike’s accelerate its expansion across and beyond the U.S. market, as well as its continued investment in technology and digital transformation. New …
Lawrenceville, N.J. — Four new tenants are opening at Mercer on One, a retail development located in Lawrenceville, roughly 40 miles outside Philadelphia. Bloomingdale’s the Outlet Store, Crate & Barrel Outlet and J. Crew Factory are now open at the property, occupying 18,494; 23,446; and 6,100 square feet, respectively. Sephora is also scheduled to open a store at the development on Nov. 15. The landlord, Federal Realty Investment Trust, completed a rebranding of the 551,000-square-foot property, formerly Mercer Mall, in October 2023.
Paramus, N.J. — Four new tenants have signed leases at Bergen Town Center, a retail center located in Paramus. Bath & Body Works and Crumbl recently opened at the property, occupying 4,157 and 2,138 square feet, respectively. First Watch and Tacoria are scheduled to join the lineup in 2025, opening 4,790-square-foot and 1,654-square-foot restaurants. Taryn Brandes, Emily Green and Alexandra Yanoff of Brand Urban LLC represented the landlord, Urban Edge Properties, in the lease negotiations with Crumbl, First Watch and Tacoria. Paul Schiffer represented Urban Edge in negotiations with Bath & …
Jackson Township, Lacey Township and Toms River, N.J. — CBRE has arranged the sale of a portfolio comprising three grocery-anchored shopping centers located in Ocean County, roughly 50 miles east of Philadelphia. Pasbjerg Development Co., which developed and managed the properties, was the seller. ShopRite anchors the properties, which include Bay Plaza in Toms River, Jackson Plaza in Jackson Township and Lacey Mall in Lacey Township. Other tenants at Lacey Mall, which totals 173,988 square feet, include T.J. Maxx, Mattress Firm, Firestone, Hand & Stone, UPS, Dollar Tree, Dunkin’, Popeyes and …
Linden, N.J. — SRS Real Estate Partners has brokered the $14.3 million sale of a single-tenant retail building in the Northern New Jersey community of Linden. LA Fitness occupies the property, which totals 41,000 square feet situated on a five-acre site within Legacy Square Shopping Center. Kyle Fant, Britt Raymond, Matthew Mousavi and Patrick Luther of SRS represented the seller, a partnership between Cypress Equities and Stockbridge Capital Group, in the transaction. Josh Kanter and Tony D’Ambrosia of NNN Pro represented the undisclosed buyer. Chris Marks and Steve Filippo of Marcus …