The recent sale of Hamilton Marketplace, a regional power center in Hamilton Township, NJ, was arranged by Institutional Property Advisors (IPA), a division of Marcus & Millichap. The transaction exceeded $100 million and is reportedly the largest single-asset open-air shopping center deal to close in New Jersey since 2017.
According to IPA executive director Brad Nathanson, the property attracted interest from both private and institutional investors as well as large private family offices due to its prime location on over 128 acres with highway frontage. This was the first time that Hamilton Marketplace had been on the market since it was developed.
Nathanson and IPA senior director JP Colussi represented SITE Centers, the seller of Hamilton Marketplace. They were able to secure Paramount Realty as the buyer for this New Jersey-based property. The shopping center has been constructed in phases starting in early 2000s and features a ShopRite Supermarket spanning over 65,000 square feet as its anchor tenant. Other notable tenants include Kohl’s Ross , Staples Barnes & Noble , Michaels Old Navy Ulta Burlington PetSmart .
