HFF announces sale of Oak Park Commons in South Plainfield, New Jersey
FLORHAM PARK, NJ – December 11, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Oak Park Commons, a 137,000-square-foot, grocery-anchored shopping center in South Plainfield, New Jersey.
The HFF team represented the seller and procured the buyer.
Oak Park Commons is situated on just over 16 acres at 901-913 Oak Tree Road in the northwestern section of Middlesex County, approximately 22 miles southwest of Manhattan. The center has an average daily traffic count of 20,000 vehicles and a population and average household income of more than 111,000 and $131,157 respectively within a three mile radius. Originally built in 1998, the seven-building, ACME-anchored center is 98 percent leased to tenants including CVS, Advance Auto Parts, Dollar Tree, Goodyear Tires, Fitness 19, McDonald’s and Wells Fargo Bank.
The HFF investment advisory team representing the seller included senior managing director Jose Cruz, managing director Kevin O’Hearn, senior directors Michael Oliver and Stephen Simonelli and director Jordan Avanzato.
"Grocery anchored centers are still highly sought after by both institutions and private investors alike," according to Cruz. "There was a great response to the offering given the location in that submarket and tenant mix."
HFF and Holliday GP Corp. ("HFF") are licensed New Jersey real estate brokers.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.