Hampshire Cos., Partners, Buy Shore Retail Center

MANAHAWKIN, NJ—The Hampshire Companies and its joint-venture partners MCB Real Estate and One Liberty Properties have acquired The Manahawkin Commons, a 318,100-square-foot retail center in Manahawkin, NJ from ACI Manahawkin, for $42.3 million.

“The purchase of this multi-anchor retail center is ideal for our long-term portfolio strategy, as the Manahawkin Commons already boasts great visibility and high traffic in a desirable location, but also has plenty of potential as a value-add property with the additional opportunity for 12,500-square-feet of pad-site development,” says Robert Schmitt, principal in The Hampshire Companies. “MCB Real Estate and One Liberty Properties provide first-rate operational and institutional partnerships to ensure strong returns for our investors.”