Mar
30
NJ Retail Center Trades for $51M
ByPhillips Edison Grocery Center REIT II purchased the only grocery-anchored shopping center in Pompton Plains.
Pompton Plains, N.J.—HFF closed the $51 million sale of Plaza 23, a 161,000-square-foot of shopping center located in Pompton Plains, N.J. Phillips Edison Grocery Center REIT II Inc. purchased the asset.
Located at 500 Route 23 N., near the interchange of Interstate 287 and along a major retail corridor within northern Morris County, the site sits on 18.8 acres. The center has exposure to more than 54,000 vehicles passing by daily. Residents living int he area have an average annual household income of more than $119,000…
NJ Retail Center Trades for $51M
