BURLINGTON, N.J.—The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2.5 billion, has announced the acquisition of Town Crossing Shopping Center, a 92,493-sq.-ft. retail power center located at 2703 Mount Holly Road in Burlington, N.J., from J.S. Hovnanian & Sons LLC.
The shopping center is currently 100 percent occupied and boasts a tenant lineup that includes Office Max, Dick's Sporting Goods, TGI Fridays, IHOP, Burger King, Sleepys, and ATT Wireless. The property is shadow anchored by Kohls, Home Depot and Target, and is strategically located in close proximity to the New Jersey Turnpike and Interstate 295.
“The strong lineup of national, industry leading tenants at this property, its consistent history of occupancy, and long term in-place leases, made this an attractive investment,” John Goldsmith, an asset manager at The Hampshire Companies, said in a statement. “Hampshire has extensive experience within the Burlington County submarket, and the center’s long-term stability makes the property an excellent addition to Hampshire’s retail portfolio.”
Brad Nathanson of Marcus & Millichap represented both Hampshire and the seller in the transaction.