May 17, 2018
A CBRE Retail Partners team of Jeffrey Dunne, David Gavin and Travis Langer represented owner Edison I LLC in the $53-million sale of Festival Plaza in Edison, NJ. The team also procured the buyer, a local private investor.
Festival Plaza is a 151,763-square-foot, grocery-anchored center situated directly on Route 27 in Edison. Fully-leased and recently redeveloped, it’s anchored by Asian grocer H Mart, which caters to the surrounding demographic.
“The highly complementary, synergistic rent roll at the center, comprised of a high-volume grocer, spa, restaurants, banking and medical tenants, caters to the surrounding Asian demographic, drawing from a wide trade area and creating a truly unique shopping experience,” said Dunne. “The property’s strong rent roll and long-term leases should provide stable cash flow to the buyer.”
For comments, questions or concerns, please contact Paul Bubny