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HFF CLOSES SALE-LEASEBACK OF TWO RETAIL CENTERS IN THE NORTHEAST

FLORHAM PARK, N.J. — HFF has closed a sale-leaseback transaction involving two grocery-anchored retail centers totaling 220,431 square feet in New Jersey and suburban Philadelphia. HFF marketed the properties as part of a nine-property portfolio owned by The Great Atlantic & Pacific Tea Co. (A&P) and its affiliates. MCB Real Estate LLC, in conjunction with Alex Brown Realty Inc., purchased the two properties. A&P will continue to operate the Pathmark grocery stores at each of the sites. HFF closed the sale-leaseback of four freestanding Pathmark stores from this portfolio earlier this year and has sold more than 15 A&P/Pathmark-anchored supermarket centers in New Jersey and the surrounding markets for various owners during the last two years. The HFF investment sales team representing the seller was led by Jose Cruz and Andrew Scandalios, senior managing directors; Kevin O’Hearn and Jeffrey Julien, managing directors; as well as associate Marc Duval.

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