Holliday Fenoglio Fowler L.P. announced the $25.4 million sale of a 117,000-square-foot, grocery-anchored retail center at 50 Race Track Road in East Brunswick.
HFF marketed the property on behalf of the seller, a partnership between MCB Real Estate and Alex Brown Realty Inc.
Prestige Properties and Development purchased the property.
In addition to the Aldi grocery anchor, the property is leased to Burlington Coat Factory, AutoZone and Jersey Fine Wines. Its new building is also occupied by Starbucks, Supercuts and Five Guys.
The HFF investment advisory team representing the seller included Jose Cruz, senior managing director; Kevin O’Hearn, managing director; and Michael Oliver and Stephen Simonelli, senior directors.
“We are thrilled to arrange (the property’s) sale again now that ownership has successfully carried out their repositioning strategy,” O’Hearn said.
