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| Chester Springs Shopping Center, 141--205 Route 206, Chester Borough, NJ |
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| Kevin O'Hearn |
FLORHAM PARK, NJ – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Chester Springs Shopping Center, a
223,000-square-foot, Class A, grocery-anchored retail center in Chester
Borough, New Jersey.
HFF marketed the property
on behalf of the seller, Heitman and Ramco-Gershenson Properties Trust. Dividend Capital Diversified Property Fund,
Inc. purchased the asset for $53.8 million (approximately $241 per square
foot).
Chester Springs Shopping
Center is anchored by ShopRite, the market leader in the region, in addition to
Marshalls and Staples. The
95-percent-leased center is also home to other national retailers including
Starbucks, CVS Pharmacy, Burger King, Great Clips, Bagel Café, Subway and
Massage Envy.
Chester Springs Shopping Center is situated in
downtown Chester on 20.61 acres at 141-205 Route 206, a main thoroughfare
through western Morris and Somerset Counties.
The HFF investment sales
team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and associate director Steve Simonelli and supported by senior
managing director Andrew Scandalios
and managing director Chris Munley.
For a complete copy of the company’s news
release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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