Paramount Realty has acquired one of the busiest shopping centers in New Jersey for $100 million.
Hamilton Marketplace was deemed the "largest single-asset open-air shopping center transaction" to be completed since 2017 in the state, Institutional Property Advisors, which brokered the deal, said in a statement. The last time a retail center went over that threshold in New Jersey was when Centerton Square traded for $130 million.
Brad Nathanson, IPA executive director, said that the offering brought interest from private and institutional capital that he hasn't seen since pre-pandemic levels.
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