JLL closes $60M sale of retail center in Mays Landing

JLL Capital Markets announced recently that it has closed the $60 million sale of a retail center in Mays Landing.

JLL’s Jose Cruz, Chris Munley, James Galbally and Kevin O’Hearn, senior managing directors; Colin Behr, senior director; and J.B. Bruno, director; marketed the 403,050-square-foot Hamilton Commons on behalf of the seller, Retail Value Inc. Time Equities Inc. purchased the asset.

“It was a pleasure working with both teams from RVI and Time Equities Inc.,” Munley said. “Both groups were nothing but professional and diligent throughout the process, and it made for an exceptional execution on all fronts.”

The property is situated on 61.2 acres at 190 Hamilton Commons Drive, approximately 12 miles west of Atlantic City and nearby Exit 12 of the Atlantic City Expressway.

It is currently 93% leased to 34 tenants, including Regal Cinemas, Hobby Lobby, Marshalls, Ross Dress for Less and Big Lots.

“We know retail, and over the course of the past five years, increased our portfolio by 35 retail assets,” Ami Ziff, director, national retail for TEI, said. “We continue to expand nationally as we build up our retail platform in various secondary and tertiary markets. We continue to strategically add to our retail holdings across the United States and plan to sustain this robust level of growth for the next several years.”