JLL Capital Markets has closed the $60-million sale of Hamilton Commons, a 403,050-square-foot power center in the Atlantic City-area community of Mays Landing, NJ.
The brokerage marketed the property on behalf of the seller, Retail Value Inc. Time Equities, Inc. (TEI) purchased the asset.
“We know retail, and over the course of the past five years, increased our portfolio by 35 retail assets,” said Ami Ziff, director, national retail for TEI. “We continue to expand nationally as we build up our retail platform in various secondary and tertiary markets.
The property is 93% leased to 34 tenants, including national brands, restaurants and retailers. Regal Cinemas, Hobby Lobby, Marshalls, Ross Dress for Less and Big Lots serve as anchor tenants.
The JLL team representing the seller was led by Jose Cruz, Chris Munley, James Galbally, Kevin O’Hearn, Colin Behr and J.B. Bruno.
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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