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| Nottingham Shopping Center, 2021 Nottingham Way, Hamilton, NJ |
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| 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
