Onyx Equities Acquires Premier Retail Power Center in Woodbridge, N.J.
- Central New Jersey’s Woodbridge Crossing Boasts Top Tenant Mix -
Onyx Equities, LLC, a leading private real estate investment, development and management firm, today announced that it has closed on the acquisition of a prominent retail center through its Phalanx Fund II.
Originally developed by Forest City Ratner in the early 2000s, Woodbridge Crossing is a 284,456-square-foot retail power center ideally located on the north side of the Woodbridge Mall at the intersection of Routes 1 and 9 in Woodbridge, N.J. Woodbridge is the preeminent retail location in Middlesex County, New Jersey. Woodbridge is home to many of the nations most dominant retailers, such as Home Depot, Walmart and others.
Onyx completed the acquisition of Woodbridge Crossing in the 4th quarter of 2011 and has enlisted the representation of SRS as its leasing agent. “Woodbridge Crossing presented Onyx with an opportunity to purchase a modern, ideally located retail site in the heart of the Woodbridge retail corridor,” said Jonathan Davis, Senior Vice President of Investments for Onyx Equities, and the person primarily responsible for the acquisition of the center. “Our firm’s extensive knowledge of New Jersey retail and the proximate location of Woodbridge Crossing to our headquarters on Route 9 in Woodbridge made it a great fit for our Phalanx Fund II,” exclaimed Mr. Davis.
Onyx is also excited to announce that Burlington Coat Factory has picked Woodbridge Crossing for its latest store opening. Burlington will be back-filling the vacated Great Indoors location and is scheduled to open in the 4th quarter of 2012. “We hope to announce additional retail lease signings in the coming months as Woodbridge Crossing once again marches toward 100% occupancy,” stated Jared Minatelli, Senior Vice President of Asset management for Onyx.
About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading private real estate investment, management and development firm. Since its founding in 2004, Onyx has acquired more than $850 million worth of real estate assets across the tri-state region. The company currently owns, manages or is the appointed receiver for 12 million square feet of office, retail, industrial, and self-storage properties located in New Jersey, New York, Connecticut and Pennsylvania. For more information on Onyx Equities, contact the firm at (732) 362-8800, or visit www.onyxequities.com.