Wednesday, August 5, 2015

HFF closes sale of Class A power center in northern New Jersey

  
Livingston Shopping Center, 530 West Mount Pleasant Avenue,
 Essex and Morris Counties, NJ

Jose Cruz

FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Livingston Shopping Center, a 140,000-square-foot power center, 97 percent leased to six national tenants in Livingston, New Jersey.

HFF selectively marketed the property on behalf of the seller, a partnership between KABR Group and G&S Investors.  Kite Realty Group Trust purchased the asset. 

Livingston Shopping Center’s two buildings house Nordstrom Rack, T.J.Maxx, Buy Buy Baby, DSW, Cost Plus World Market and Ulta Beauty.  

The center, fully repositioned in 2014, is situated on 20 acres at 530 West Mount Pleasant Avenue along the Route 10 retail corridor that runs through Essex and Morris Counties. 

The center is also less than a quarter mile from Livingston Circle, a prominent intersection connecting Route 10 with Eisenhower Parkway, and within three miles of Interstate 280 and Route 24. 

Kevin O'Hearn
The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and associate director Michael Oliver.

“The Livingston Shopping Center represented an excellent opportunity to acquire a well-located Class A shopping center in an infill market,” Cruz said.  “These types of centers are in high demand and short supply.”

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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