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New York & Tri-State  + New Jersey  + Retail  | 

Central NJ Grocery-Anchored Center Trades for $100M-Plus

Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the sale of Hamilton Marketplace, a grocery-anchored regional power center in Hamilton Township, NJ. The center sold for a total consideration exceeding $100 million, reportedly making it the largest single-asset open-air shopping center transaction to close in New Jersey since 2017.

“On the open market for the first time since development, the offering drew a pool of private and institutional capital that we haven’t seen since before the pandemic and interest from large private family offices that know the value of controlling over 128 acres with highway frontage,” said Brad Nathanson, IPA executive director.

Nathanson and IPA senior director JP Colussi represented the seller, SITE Centers, and procured the New Jersey-based buyer, Paramount Realty. Constructed in phases beginning in the early 2000s, Hamilton Marketplace is anchored by a 65,155-square-foot ShopRite Supermarket. The tenant roster includes Kohl’s, Ross, Staples, Barnes & Noble, Michaels, Old Navy, Ulta, Burlington and PetSmart.

Read More News Stories About: Marcus & Millichap
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IPA's Nathanson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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