FNRP, a real estate company based in Red Bank, NJ, has recently acquired Waretown Town Center in Ocean County, New Jersey. This marks their seventh shopping center acquisition in the state. The shopping center spans 87,735 square feet and is anchored by a popular grocery store called ShopRite that has been operating at the location for over 15 years. Other tenants include Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips.
According to Mike Hazinski, FNRP’s Chief Investment Officer (CIO), this purchase aligns with their strategy of acquiring high-quality retail centers located in strong areas for commercial activity. He also noted that grocery-anchored properties are highly desirable due to consistent tenant demand and limited new supply.
The undisclosed seller was represented by CBRE agents Colin Behr and Chris Munley during the transaction process.
