Press Release brought to you by Advance Realty
Joint-Venture Partnership Acquires Windsor Hights Shopping Center in East Windsor, N.J.
New Ownership Will Reposition Neighborhood Retail Site
EAST WINDSOR, N.J. (July 12, 2012) — A joint-venture partnership of Advance Realty and Structure Tone Equities today announced that it has taken ownership of Windsor Hights Shopping Center, a 132,733-square-foot, neighborhood retail site in East Windsor, New Jersey.
Located at 440 Route 130 South and situated on a corner of Route 130 and Hightstown Road, Windsor Hights Shopping Center features two pad sites that are currently occupied by PNC Bank and Taco Bell. The center is currently 40-percent occupied with approximately 92,000 square feet of space available for lease.
Christopher M. Bellapianta represented the JV partnership in the transaction. Bellapianta serves as Director of Finance and Acquisitions for Advance Realty, which is a leading Northeast U.S. owner and developer of Class A office, mixed-use and flex-space properties.
“We see this as a strategic, value-add investment opportunity,” stated Peter J. Cocoziello, President and CEO of Advance Realty. “This transaction affords us a unique opportunity to re-tenant and reposition the property, which is known for providing retailers with excellent visibility in a vibrant and dynamic submarket.”
Added Brian M. Donaghy, President and CEO of Structure Tone Equities: “This acquisition presents an excellent opportunity to create one of Mercer County’s premier retail centers. By harnessing the vast knowledge and combined experience of the teams at Advance Realty and Structure Tone Equities, we are confident that we can maximize the potential of Windsor Hights Shopping Center.”
About Structure Tone Equities
Structure Tone Equities is a private equity real estate investment company focused on value-added investments involving development, redevelopment, renovation and repositioning of asset. Structure Tone Equities plays a crucial role in protecting the return for each asset – managing risk, ensuring execution, and maximizing operating efficiencies. The firm focuses on commercial office, higher education, hospitality, retail and medical office properties.
About Advance Realty
Advance Realty, headquartered in Bedminster, New Jersey, is a privately held real estate development, investment and management company. Since its inception in 1979, Advance Realty has acquired or developed more than seven million square feet of commercial, residential, mixed-use and industrial projects. Advance continues to be one of the most active and respected commercial real estate companies in the New Jersey and Washington, D.C. markets.
Advance Realty is well positioned for smart growth in its core markets. The company’s strong capital base, outstanding talent and flexibility as a privately held, fully integrated real estate company ensure continued success at the forefront of the commercial real estate industry.
07/12/2012 - 13:27