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.
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.
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 …
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 …
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.
Paramus, N.J. — Lidl Supermarket is opening a new location in Paramus. Lidl operates more than 12,000 stores and is active in 31 countries, offering customers fresh produce, meat, bakery items and household products. The German grocer, which has its US headquarters in Arlington, Virginia, emphasizes small-format stores, totaling an average of 25,000 square feet in the U.S. The new location will open February 12.
Allendale, N.J. — Fitness studio Ritual Fitness has signed a 3,206-square-foot lease at Allendale Town Center in Allendale, bringing the property to full occupancy. Azarian Realty Co. leases and manages the 79,374-square-foot retail center, which comprises 20 tenant spaces, as well as an 11,290-square-foot freestanding building. Acme Supermarkets anchors the property. Kevin Pelio of Azarian represented both the landlord and the tenant in the lease negotiations.
Matawan, N.J. — Marcus & Millichap has brokered the $3 million sale of Matawan Mall, a shopping center located in Matawan, approximately 27 miles outside Newark. Originally developed in the 1980s, the 20,665-square-foot property comprises 11 tenants and is anchored by Dunkin’ Donuts. Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap represented the seller, Burpat Holdings, in the transaction. Marcus & Millichap also procured the buyer, a local private investor.
North Brunswick, N.J. — Ace Pickleball Club has announced plans to open a venue at Brunswick Shopping Center in North Brunswick. Levin Management Corp. (LMC) manages and leases the center, which totals 288,000 square feet. Fred Younkin of LMC negotiated the lease on behalf of the landlord, and Marta Villa of CBRE represented the tenant in the lease negotiations. Ace Pickleball Club will occupy a 26,500-square-foot space adjacent to Lidl at the center. Other tenants at the property include LA Fitness, Dollar Tree, Sally Beauty, McDonald’s, Sherwin Williams and Tropical …
Park Ridge, N.J. — Marcus & Millichap has facilitated the $17 million sale of Ridgemont Shopping Center in Park Ridge, roughly 25 miles west of Newark. Lidl anchors the 71,650-square-foot retail property, which was built in 1962. Other tenants at the property, which was fully leased at the time of sale, include Staples, Chase Bank and Starbucks Coffee. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap and Bill Farkas of Jeffery Realty represented the seller and procured the buyer in the transaction.
