JV Acquires Mixed-Use Property in Central New Jersey for $6.2M

EWING TOWNSHIP, N.J. — A joint venture between Black Oak Associates and Broad Oak Partners has acquired a 98,000-square-foot mixed-use property located at 1600 N. Olden Ave. in Ewing Township. 1600 Olden LLC sold the property for $6.2 million. Family Dollar and the State of New Jersey Department of Motor Vehicles anchor the property, which offers a mix of retail, office and flex space. At the time of sale, the property was 70 percent occupied. The acquisition is the third in Black Oak’s investment fund vehicle, Black Oak IV LP. David Bernhaut of Cushman & Wakefield represented the seller in the transaction.