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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.
- ◦Sale/Acquisition

