HFF BROKERS $22.7M SALE OF NEW JERSEY POWER CENTER
PHILLIPSBURG, N.J. — HFF has brokered the sale of Greenwich Center, a 182,583-square-foot retail power center in Phillipsburg. An affiliate of Northeast Capital Group and BHN Associates purchased the property for $22.7 million from Retail Properties of America Inc. in an all cash transaction. Located at 1200-1208 New Brunswick Ave., the shopping center is 93.25 percent leased to national and regional tenants, including Staples, Best Buy, Pier 1 Imports, Petco, Dollar Tree, Sleepy’s, Michaels, Ashley Furniture, Five Below and Famous Footwear. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Jeffrey Julien and Chris Munley of HFF represented the seller in the transaction.