{"id":1004233524,"date":"2018-06-05T04:48:53","date_gmt":"2018-06-05T12:48:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004233524"},"modified":"2018-06-05T04:52:40","modified_gmt":"2018-06-05T12:52:40","slug":"aew-sells-nj-retail-center-for-42m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/aew-sells-nj-retail-center-for-42m\/","title":{"rendered":"AEW Sells NJ Retail Center for $42M"},"content":{"rendered":"

By Corina Stef<\/p>\n

\"Wall<\/a>

Wall Towne Center, Wall Township, N.J.<\/p><\/div>\n

AEW Capital Management has disposed of Wall Towne Center, a 99,070-square-foot retail center in Wall Township, N.J. DWS Group purchased the property for $41.5 million and free of debt.<\/p>\n

ShopRite anchors the fully occupied building, which includes a diverse roster of tenants. Great Clips, AT&T, GNC, Allstate Insurance, Cherry Blow Dry Bar, OceanFirst Bank, Lubrano’s Trattoria and PetValu are among the 12 tenants of the asset. Built in 1997, the shopping center underwent renovations in 2017, following ShopRite\u2019s space expansion. Levin Management Corp. handles management services for the property. The same company manages a 120,350-square-foot shopping center<\/a> in Toms River, N.J.<\/p>\n

Wall Towne Center spreads across 11.8 acres at 2433-2445 Route 34 and is the only grocery-anchored shopping center in the area. Major thoroughfares such as routes 35, 70 and 34 provide easy access to and from Manasquan, Point Pleasant, Bric and Brielle.<\/p>\n

An HFF team comprising Senior Managing Director Jose Cruz, Managing Directors Kevin O\u2019Hearn and Chris Munley and Senior Directors Michael Oliver and Stephen Simonelli represented the seller in the transaction.<\/p>\n

\u201cThe investment market responded very favorably to Wall Towne Center given the ShopRite sales, location and surrounding demographics<\/em>,\u201d said Cruz, in a prepared statement. \u201cWe continue to see demand for high-quality retail throughout New Jersey.<\/em>\u201d<\/p>\n

Image courtesy of Levin Management Corp.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

ShopRite is Wall Towne Center’s largest tenant, making the roughly 100,000-square-foot property the only grocery-anchored retail center along Route 34.<\/p>\n","protected":false},"author":241,"featured_media":1004233528,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1600,21742,10,21749],"tags":[33758,32792,37394,37599],"class_list":["post-1004233524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-new-york","category-latest","category-northeast","category-retail","tag-aew-capital-management","tag-hff","tag-levin-management-corporation","tag-shoprite"],"acf":[],"yoast_head":"\nAEW Sells NJ Retail Center for $42M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/aew-sells-nj-retail-center-for-42m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AEW Sells NJ Retail Center for $42M\" \/>\n<meta property=\"og:description\" content=\"ShopRite is Wall Towne Center's largest tenant, making the roughly 100,000-square-foot property the only grocery-anchored retail center along Route 34.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/aew-sells-nj-retail-center-for-42m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-05T12:48:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-05T12:52:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Manasquan_01-lowres5355409f01774.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"862\" \/>\n\t<meta property=\"og:image:height\" content=\"647\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/aew-sells-nj-retail-center-for-42m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/aew-sells-nj-retail-center-for-42m\/\",\"name\":\"AEW Sells NJ Retail Center for $42M - 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