HFF announced the $16.2 million sale of The Village Shoppes at Hawk Pointe and Hunterdon Medical Office Building.
The property comprises an 81,415 s/f fully leased, ShopRite-anchored retail center and a 25,000 s/f single-tenant medical office building in Washington, New Jersey.
The HFF team marketed the property on behalf of the seller, Asbury Farms. Larken Associates purchased the asset.
The Village Shoppes at Hawk Pointe is the only grocery-anchored shopping center within a 10-mile radius and is also home to Anytime Fitness and Visions Federal Credit Union.
Completed in 2016, the Hunterdon Medical Office Building is a multi-specialty outpatient medical office building on a triple net lease with Hunterdon Healthcare (Fitch A+) and is open seven days a week.
The building was constructed in 2016 adjacent to The Village Shoppes at Hawk, which opened in 2010.
The HFF investment advisory team representing the seller included senior managing directors Jose Cruz and Kevin O’Hearn, managing director Chris Munley, senior directors Ben Appel, Steve Simonelli and Michael Oliver and director Michael DiCosimo.
“With a premier grocery anchor and extreme barriers to entry in this market, The Village at Hawk Pointe is a highly successful asset,” Munley said. “In today’s retail environment, grocery-anchored product continues to demand premium pricing.”