Hampshire US REIT (UHREIT) and joint venture partner MCB
Real Estate has acquired Lawnside Commons, a 151,076 s/f shopping center at 310
White Horse Pike in Lawnside, NJ, for $31.55 million.
Lawnside Commons is currently 100 percent leased to a lineup
of national tenants including Home Depot, PetSmart, Wendy’s, T-Mobile and
Sleepy’s Mattress Firm. The grocery and
necessity-based retail property is situated along White Horse Pike in Camden
county, New Jersey.
“The United Hampshire US REIT seeks to provide the unique
opportunity to gain exposure to a distinctive portfolio of high quality, resilient
and stable income-producing grocery-anchored and necessity-based properties
strategically located throughout the U.S.,” said Robert Schmitt, Chief
Executive Officer of the UHREIT.
“Standing at 100
percent occupancy with a diverse slate of institutional-quality retail tenants
providing stable, long-term cashflow, we believe Lawnside Commons is
well-positioned for continued long-term strength.”
“You have to seize on assets with strong tenant quality and
growth when you identify them,” noted P. David Bramble, Managing Partner of MCB
Real Estate. “MCB is extremely excited about the stability and long-term
prospects for Lawnside Commons.”
Cushman & Wakefield investment sales specialists Andrew
Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Max
Helfman, along with Karen Iman and Keith Braccia of the firm’s Philadelphia
office brokered the sale.
United Hampshire US REIT is a real estate investment trust
listed on the Singapore Exchange.
Sponsored by The Hampshire Companies and United Overseas Bank Global
Capital, UHREIT provides Singapore investors with the opportunity to invest in
income properties throughout the United States.
Headquartered in Baltimore, MCB is a privately-held,
institutionally-capitalized commercial real estate development and investment
firm.
