Tuesday, December 5, 2017

Black Creek Divests Centerton Square Shopping Center

Prestige Properties & Development Company, Inc. has acquired the Centerton Square shopping center at 2 - 74 Centerton Rd. in Mount Laurel, NJ from Black Creek Diversified Property Fund Inc. for $129.6 million, or about $304 per square foot.

The shopping center delivered in 2004 and totals 426,415 square feet. It is anchored by a Wegmans, with in-line and outlot space fully leased by multiple tenants including TJ Maxx, DSW, PetSmart, Chipotle, Starbucks, Five Below and JoAnn Fabrics. Target and Costco stores are a part of the center but were not included in the sale.

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