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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.”

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About Paul Bubny

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. 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 15-20 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 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