Monday, October 12, 2015

HFF closes $6.4 million sale of central New Jersey retail center

Nottingham Shopping Center, 2021 Nottingham Way, Hamilton, NJ
Chris Munley

PHILADELPHIA, PA - Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $6.4 million sale of Nottingham Shopping Center, a 24,396-square-foot retail center with a freestanding Walgreens in Hamilton, New Jersey.

HFF arranged the sale of the property on behalf of the seller, Mercer Realty, LLC.  The buyer, an affiliate of privately-held real estate investment firm PAG Investments, was represented by Chaim Dahan Esq, of The Dahan Law Firm.

Situated on almost six acres at 2021 Nottingham Way, Nottingham Shopping Center is at the signalized intersection of Highway 33 and Klockner Road in Hamilton, a central New Jersey township four miles east of Trenton and 35 miles from Philadelphia. 

The location has a daily traffic count of 21,401 vehicles, and the center is surrounded by both single- and multi-family residences less than a quarter mile from Nottingham High School.  Completed in 2012, the three-building center is 91.56 percent leased to Walgreens, Dunkin Donuts and Aromaz Carpet.

The HFF investment sales team representing the seller was led by managing director Chris Munley and senior managing director Jose Cruz.

“With retail cap rates continuing to compress in the Mid-Atlantic, acquisitions that have a value-add component are in high demand,” Munley said.  “The security of the Walgreen’s credit and cash flow, compounded by the ability to develop further retail on the site, made this property a highly sought after asset.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |


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