Friday, November 30, 2012

Towne Crossing Shopping Center Sells For $13.6M

The Hampshire Companies acquired the Towne Crossing Shopping Center at 2703 Mount Holly Rd. in Burlington, NJ from J.S. Hovnanian & Sons LLC for $13.55 million, or about $148 per square foot. 

Built in 1999, the 91,494-square-foot power center was 100 percent occupied at the time of sale, free and clear of debt, and strategically located in close proximity to the New Jersey Turnpike and Interstate 295. The anchor tenants at this net-leased asset consist of Home Depot, Target, Kohl's, Office Max, and Dick's Sporting Goods.

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