Saturday, January 22, 2011

Marcus & Millichap Sells $14.5 Million Boutique Shopping Center in New Jersey

EAST WINDSOR TOWNSHIP, NJ – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Windsor Crossing (top left photo), an 80,009-square foot boutique shopping center in East Windsor Township, N.J. The sales price of $14.5 million represents $181 per square foot.

Brad Nathanson (middle right photo), a vice president investments and a senior director of Marcus & Millichap’s National Retail Group (NRG), and Christopher Munley, a senior associate and an associate director of the NRG, both in Philadelphia, represented the seller, Windsor Crossing West #4 LLC.

Nathanson and Munley also represented the buyer, East Windsor Crossing LLC, a New York-based private shopping center operator. Michael Fasano in the firm’s New Jersey office also provided representation.

“There was heavy competition regionally for this asset given its proximity to Princeton and because limited new retail product is being delivered to the market, especially in New Jersey,” says Nathanson.

Windsor Crossing was built in 2008 on 11.09 acres at 761 Route 33 West, near Princeton, N.J., Philadelphia and New York City.

The property is part of a master-planned development that includes a 110,000-square foot Home Depot, a 142,000-square foot Walmart and 102 single-family homes on 125 acres. Windsor Crossing shares two access roads off Route 33 with Home Depot and Walmart.

“We have seen an increase in demand for well-positioned centers in affluent and growing markets during the past few quarters,” says Munley. “I expect that trend to continue.”

The center currently has 14 tenants, including Gold’s Gym, The Learning Experience, New York Community Bank, Mahzu, a Japanese restaurant and Patidar, a grocery store.

 Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Colliers International Recruits Mark Tarczynski and Adam Tischer to its Downtown Los Angeles Office

LOS ANGELES, CA – Colliers International, the second largest global real estate services organization, welcomes Mark Tarczynski (top right photo) and Adam Tischer (middle left photo)  to its Downtown Los Angeles office. They specialize in representing large corporate investment and developer clients in the Downtown Los Angeles market. 

 “We are thrilled to welcome Mark and Adam to Colliers,” said Martin Pupil (lower right photo), regional managing director for Colliers International’s Greater Los Angeles operations.

 “Mark’s leading reputation and success in selling high profile urban properties along with his recognition as one of the chief agents to Downtown LA’s growth into a dynamic urban center will be a tremendously valuable addition to our growing platform in the Greater Los Angeles region.”

 Mark Tarczynski will serve as executive vice president. Previously he was with CB Richard Ellis’ Los Angeles office where he founded the Los Angeles Urban Redevelopment Group.

Adam Tischer will serve as vice president. Previously, he was with CB Richard Ellis’ Los Angeles office where he earned their coveted Rookie of the Year award in 2008.

Angela S. Hwang, Regional Marketing Coordinator,
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