 |
| Lori Schwartz |
FLORHAM PARK, NJ, July 13,
2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed
the $42.25 million sale of Manahawkin
Commons, a 318,100-square-foot, multi-anchor retail center with future
additional development potential in Manahawkin, New Jersey.
HFF marketed the property
on behalf of the seller, ACI Manahawkin LLC.
The Hampshire Companies, a full-service, private real estate investment firm,
purchased the asset in a joint venture with MCB Real Estate, LLC and One
Liberty Properties, Inc.
Mitchell
Greene, Robert Sasloff and Lori Schwartz
of Robinson Brog Leinwand Greene Genovese & Gluck P.C. provided legal
counsel to ACI Manahawkin LLC during the transaction.
Anchored by Kmart, T.J.Maxx and Regal Cinemas,
the 95-percent-leased Manahawkin Commons is home to a variety of national and
regional tenants including Staples, Michaels, Pier One, Famous Footwear, Great
Clips, Five Below, McDonald’s, Verizon Wireless, Game Stop, Subway and Dunkin
Donuts.
Additionally, the site has
preliminary approval for three proposed pad sites approximately 12,500 square
feet.
Situated on 48 acres at Washington
Avenue and Route 72, a retail corridor with an average daily traffic count of
50,000 vehicles, the center is the first retail destination off of the Garden
State Parkway at exit 63 on the way to Long Beach Island, an affluent beach
resort town on New Jersey’s central coast.
 |
| Jose Cruz |
The HFF investment sales
team representing the seller was led by senior managing director Jose Cruz and managing director Kevin O’Hearn.
“There was a significant
amount of interest in this property given the current tenant base and potential
upside,” said Cruz.
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 | www.hfflp.com
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