Sunday, July 5, 2015

Nassimi Goes Shopping for Burlington County Center

by Steve Lubetkin,
Nassimi Realty says it will be sprucing up its latest South Jersey acquisition, Edgewater Park Plaza, a 115,000-square-foot shopping center in Edgewater Park, NJ near Philadelphia, which the firm just purchased. Terms of the sale were not disclosed.
"We are pleased to add a fifth center in the Philadelphia market,” says Nassimi Realty’s president, Mike Nassimi.We are planning a major redevelopment of the Edgewater Park Plaza site including the former Pathmark space. Our company continues to look at acquiring properties in the northeast, especially in the greater New York and Philadelphia corridors."
Edgewater Park Plaza2110 Route 130, is at the intersection with Woodlane Road. Current tenants in the center include Big Lots, Dunkin Donuts and a Getty gas station.
Nassimi Realty acquired the center from A&P, which until recently operated a Pathmark store at the location. Winbrook Management represented Nassimi Realty in the purchase. Metro Commercial Real Estate represented the seller.         
In the greater Philadelphia market, Nassimi Realty also owns the 600,000-square-foot Cedarbrook Plaza power center in Wyncote, PA; the 70,000-square-foot Airport Plaza adjacent to Chester County Airport; the 115,000-square-foot Weis Plaza in Kutztown, PA and a 300,000-square-foot retail center currently under development next to Trenton-Mercer Airport in Ewing, NJ.

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