Search
 

AMC Sells 156,000-SF Shopping Center for $28M

EDISON, NJ-The Edison Commons center is now owned by a subsidiary of MCC Realty Investments and will shortly have a new anchor.

By Brianne Harrison | Updated on June 30, 2008

EDISON, NJ-AMC Delancey has sold its Edison Commons shopping center at 1715-1779 Lincoln Hwy. for nearly $28.4 million. The buyer is a subsidiary of MCC Realty Investments LLC.

Michael Wachs, executive vice president and CIO for Philadelphia-based AMC, tells GlobeSt.com that AMC purchased the property with the intention of redeveloping and repositioning it once National Wholesale Liquidators, which was on a short-term lease, left the space they were in.

“The goal was always to reposition the center by taking advantage of that space and finding the right use for it,” says Wachs. “But Michael McCarthy, who’s with MCC, contacted us and said they were interested in the center. Given our change in focus, it was a good opportunity for us. It made it easy for us to make the decision not to go ahead with the redevelopment.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.