Dec
12
ShopOne Enters NYC MSA
ByThe company acquired Oak Park Commons, a 139,717-square-foot grocery-anchored shopping center in South Plainfield, N.J., continuing its plan to diversify the geographic makeup of its portfolio.
ShopOne Centers REIT Inc. has acquired Oak Park Commons, a 139,717-square-foot grocery-anchored shopping center in South Plainfield, N.J., marking its initial entry in the New York City MSA. The price was not disclosed.
“For us, we were looking to find something in a really strong demographic market, finding our first deal in the New York metro area and then honing in on that exact trade area,” Michael Carroll, ShopOne Centers REIT’s CEO, told Commercial Property Executive.“It’s really strong, with over 100,000 people within a three-mile radius of the site, and a preeminent location.”…
