NEW JERSEY—WP Realty Inc., based in Bryn Mawr, Pa., has acquired Oak Park Commons, a 136,939-sq.-ft., grocery-store-anchored retail center located at 901-913 Oak Tree Road in South Plainfield, N.J. for an undisclosed purchase price.
HFF marketed the property on behalf of the seller, an institutional investor advised by PNC Realty Investors, Inc. The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin O’Hearn and Jeffrey Julien as well as associate director Michael Oliver.
Charter Realty will be leasing Oak Park Commons on behalf of the ownership.
Located in Middlesex County, Oak Park Commons was constructed in 1999 and is a one-story community shopping center anchored by A&P Supermarket in 60,025 sq. ft. The center is currently 76 percent occupied.