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 …
Edison, N.J. — Sam Ash Properties Corp. has sold a 21,929-square-foot shopping center located in Edison for $5.5 million. Marc Shein and Robert DiLeo of NAI DiLeo-Bram & Co. represented the seller in the transaction. An undisclosed grocer acquired the property, with plans to establish a flagship location.
Livingston, N.J. — Azarian Realty Co. has arranged two leases at The Livingston Town Center, a 65,523-square-foot retail center located in Livingston. Jacqueline Special Occasions and Ship Logistics will occupy 2,587 and 612 square feet at the property, respectively. Other tenants at the center include Hot Worx, LA Bikini, Omaha Steaks, Mixology, Wells Fargo and 16 Handles. Kevin Pelio of Azarian Realty Co. represented both the landlord and tenants in the leasing negotiations.
Willingboro, N.J. — Legacy Realty Group Advisors has brokered the $4 million sale of Kennedy Plaza, a shopping center located in Willingboro, roughly 20 miles outside Philadelphia. A grocery store anchors the property, which totals 58,900 square feet. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented the buyer in the transaction. Blaine Foreman of Metro Commercial represented the seller.
Quincy, Mass. — Stop & Shop, a grocery store chain based in the Boston suburb of Quincy, has announced plans to close 32 locations by the end of this year. Situated throughout the Northeast, the stores — described in a press release as “underperforming” — are located in Connecticut, Massachusetts, New Jersey, New York and Rhode Island. According to the grocer, the affected stores will shutter on or before Nov. 2. Associates at the locations will be offered other employment within the company. “As we announced in May, Stop & Shop …
