Shopping
Paramount Realty Buys One of NJ’s Most Visited Shopping Centers for $100M
The Hamilton Township shopping center, which is headlined by a 65,155-square-foot ShopRite Supermarket, was first constructed in phases in the early 2000s. Other stores in Hamilton Marketplace include Barnes & Noble, Michaels, Old Navy, Ulta, Burlington, Kohl’s, Ross, Staples, and PetSmart.
“Hamilton Marketplace is in the top 1% of most-visited shopping centers in the nation and one of the most-visited open-air shopping centers in New Jersey,” JP Colussi, IPA senior director, said.
“Its high anchor retention and chain-leading sales volumes of top retailers make it one of the nation’s best-performing grocery-anchored power centers. Of the 17 original anchors, 13 are still in place, and in the past three years, nine anchor tenants exercised their contractual obligations.”
Moreover, Kyle Stonis, SVP at Matthews Real Estate Investment Services, recently told GlobeSt. that investment appetite for both anchored and unanchored shopping centers is the strongest it has been in years.
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