Westover Companies, a property management and ownership company, has purchased the fully-leased Towne Square Shopping Center at 860-892 Union Mill Rd. in Mount Laurel, NJ, from The Hampshire Cos.
The shopping center is anchored by a ShopRite super market and was built in 1996 and measures 88,265 square feet.
“Since acquiring the Towne Square Shopping Center in 2012, our strategy was to fully lease the property and secure a buyer within five years," said Igor Derbaremdiker, director of dispositions for The Hampshire Cos. “High demand for stabilized grocery-anchored retail product, the strong growth trajectory of the ShopRite grocery chain and Mt. Laurel’s favorable demographics made this the perfect time to sell and complete our investment strategy for the property.”
www.omegare.com
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