Cushman & Wakefield on Tuesday said it arranged the sale of Franklin Court, a 42,116-square-foot retail center located at 920 Hamilton St. in Somerset. The final sale price was $12.95 million.
Cushman & Wakefield’s Andrew Schwartz, Jordan Sobel, Seth Pollack and Andre Balthazard represented the seller, Adoni Property Group, and procured the buyer, LJL Realty Co., in the transaction.
“Franklin Court is a strategically located shopping center, offering convenience and accessibility to its dense surrounding residential population,” Sobel stated. “This asset has experienced historically strong occupancy and offers a solid in-place cash flow with an unbeatable tenant mix.”
920 Hamilton St. is anchored by Walgreens and KFC, which are both drive-through equipped. The property offers abundant on-site parking.
The property is located near Route 27 and is within three miles of Rutgers University.