4B — September 14 - 27, 2018 — New Jersey — M id A tlantic
Real Estate Journal
N ew J ersey
OWELL, NJ — Al- drich 9 Plaza, a 28,660 s/f neighborhood retail Fully occupied neighborhood retail center located along U.S. Route 9 Corridor Aldrich 9 Plaza Shopping Center sells for $6.422M in deal arranged by Gebroe-Hammer Associates H Aldrich Plaza Shopping Cen- ter. The former is anchored by Walgreens and the latter by a Bed Bath & Beyond.
Zweibel, more than 47,700 ve- hicles pass the property each day along Route 9 and over 135,934 people reside within a five-mile radius of the shop- ping center. Monmouth County is a his- torically strong retail submar- ket and home to some of the state’s prominent top-perform- ing shopping centers. These include Freehold Raceway Mall in Freehold and Jersey Shore Premium Outlets in Tinton Falls. “The entire retail sector has undergone a metamorphosis as it continues to success- fully adapt to new experiential spending habits,” said Uranow- itz. “Well-located consumer and lifestyle hubs like Aldrich 9 Plaza have demonstrated their true resilience – and fa- vorability among investors – by offering a balance of services like fast-casual dining, health and wellness, entertainment and education alongside tradi- tional shopping.” NAIOP NJ donates cash, food to Community Food- Bank of NJ HILLSIDE, NJ — Volun- teers from 46 member compa- nies of NAIOP New Jersey collected more than $4,400 in cash and over two tons of food for the Community FoodBank of New Jersey (CFBNJ) as part of the association’s annual Community Action Project. It was the ninth consecutive year that the commercial real estate development associa- tion has teamed with CFBNJ on the project. More than 120 volunteers gathered at CFBNJ’s head- quarters and warehouse facil- ity, where they stocked shelves and repackaged supplies for distribution to New Jersey residents in need. NAIOP NJ members also delivered the cash and more than 4,220 pounds of food they had col- lected from colleagues and tenants to CFBNJ’s Hillsdale location. The state’s largest anti-hunger and anti-poverty organization has a southern branch located in Egg Harbor Township. “This year’s Community Action project will provide thousands of meals to feed people across New Jersey,” said Michael McGuinness , CEO of NAIOP NJ.
center in Howell has been sold for $6.422 million in a trans- action arranged by Gebroe- Hammer Associates’ presi- dent KenUranowitz and vice president Adam Zweibel . The firm exclusively repre- sented the seller Aldrich Nine Associates LLC and procured the buyer, Aldrich III LLC. Located on U.S. Route 9 North between Aldrich Road and Moroz Street, the single- story multi-tenant center abuts and is contiguous with
“Conveniently located at one of the busiest intersections in the Howell trade area, Aldrich 9 Plaza was fully occupied at the time of sale with a nicely balanced tenant roster,” said Zweibel, the firm’s Central Jersey market specialist. Built in 1988, Aldrich 9 Plaza includes the 15,167 s/f Walgreens; 10,393 s/f Howell Medical Pavilion/RJWBarn- abas Health; and 3,100 s/f Big City Bagels. According to
9 Plaza in Howell
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