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.
“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.
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
No comments:
Post a Comment