The sale involves seven properties. Six, consisting of five retail centers and one mixed-use retail/multi-family property, closed in mid-May; a seventh shopping center on Route 22 in Union is scheduled to close in late June.

"With this portfolio, we've added some of the top names in retail," says Joe Cosenza, chairman, Inland Real Estate Acquisitions Inc. "We've added six top-tier centers in an area with some of the best demographics in the nation. These centers are an average of only about six years old, meaning they offer the latest designs the retailers have to offer," he adds.

The six centers whose sales closed in mid-May are: 440 Commons, Jersey City; Brick Center Plaza, Brick Township; East Hanover Plaza, East Hanover; West Falls Plaza, West Paterson; Edgewater Town Center, Edgewater; and a Sony Theatre Complex based in East Hanover.