Hamilton Commons, is a South Jersey Retail Power Center that recently traded for $60M. The property is 93% leased to 34 tenants, including Regal Cinemas, Hobby Lobby, Marshalls, Ross Dress for Less and Big Lots, which serve as anchor tenants.
New York City-based Time Equities Inc. has acquired the Hamilton Commons retail power center here in Southern New Jersey for $60-million.
The 403,050-square-foot property in this Atlantic City community was sold by Retail Value, Inc. of Beachwood, OH. Net proceeds equal to 105% of the property’s allocated loan amount were used to repay mortgage debt associated with Retail Value Inc. with the remaining proceeds retained as cash. Subsequent to the transaction, RVI owned interests in 15 properties in the continental U.S. and 12 properties in Puerto Rico.
Hamilton Commons is located on 61.2 acres at 190 Hamilton Commons Dr. approximately 12 miles west of Atlantic City and one mile from Exit 12 of the Atlantic City Expressway (Interstate 495), a major regional thoroughfare connecting Atlantic City to the Philadelphia MSA.
The property is 93% leased to 34 tenants, including Regal Cinemas, Hobby Lobby, Marshalls, Ross Dress for Less and Big Lots, which serve as anchor tenants.
*Article courtesy of Globest
For more information about this South Jersey retail space or about any other South Jersey commercial properties for sale or lease, please contact the team at Wolf Commercial Real Estate, a South Jersey commercial real estate broker at 856-857-6300.
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