November 5, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Sunrise Plaza, a 255,940-square-foot retail power center in Forked River, New Jersey.
The HFF team marketed the property on behalf of the seller.
Completed in 2007, Sunrise Plaza is 100 percent leased and anchored by Aldi, Kohl’s and The Home Depot. The center is situated on 27.9 acres on Route 9, a major regional roadway that traffics nearly 25,000 vehicles per day and is three miles from Exit 74 of the Garden State Parkway, a major north-south thoroughfare within New Jersey. Sunrise Plaza is in a strong retail corridor of Ocean County and serves as the primary retail hub for residents within a five-mile radius.
The HFF investment advisory team representing the seller included Jose Cruz, Stephen Simonelli, Kevin O’Hearn and Michael Oliver.
“The current tenant line up combined with the upside at the center had multiple investors attempting to acquire the asset,” Cruz said. “Access to Route 9 and the Garden State Parkway helped to further generate interest. This well-located retail asset was highly sought after by the investment community.”