HAMILTON, NJ—Privately-held Asian alternative investments group PAG Investments paid $6.4 million to acquire Nottingham Shopping Center, a 24,396-square-foot retail center with a freestanding Walgreens in Hamilton, NJ.
Holliday Fenoglio Fowler arranged the sale of the property on behalf of the seller, Mercer Realty. The buyer was represented by Chaim Dahan Esq., of The Dahan Law Firm.
“With retail cap rates continuing to compress in the Mid-Atlantic, acquisitions that have a value-add component are in high demand,” says HFF managing director Chris Munley. “The security of the Walgreen's credit and cash flow, compounded by the ability to develop further retail on the site, made this property a highly sought after asset.”
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