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Ocean County Power Center Trades in HFF Deal
HFF has arranged the sale of Sunrise Plaza, a 255,940-square-foot retail power center in the Ocean County community of Forked River, NJ. Deal terms were not disclosed; HFF marketed the property on behalf of the seller.
Completed in 2007, Sunrise Plaza is 100% leased and anchored by Aldi, Kohl’s and Home Depot. It’s in a strong retail corridor of Ocean County, and serves as the primary retail hub for residents within a five-mile radius.
The HFF investment advisory team representing the seller included Jose Cruz, Stephen Simonelli, Kevin O’Hearn and Michael Oliver.
“The current tenant line-up, combined with the upside at the center, had multiple investors attempting to acquire the asset,” Cruz said. “Access to Route 9 and the Garden State Parkway helped to further generate interest. This well-located retail asset was highly sought after by the investment community.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
