Paramount Realty recently purchased Hamilton Marketplace, a grocery-anchored power center in Central New Jersey for a total consideration in excess of $100 million. The deal makes it the largest single asset shopping center transaction to close in the state since 2017.
Located at 500 Marketplace Blvd., in Hamilton, the center is anchored by a 65,155-square-foot ShopRite Supermarket. Other tenants in the roster include Kohl’s, Ross, Staples, Barnes & Noble, Michaels, Old Navy, Ulta, Burlington and PetSmart. Walmart, Lowe’s, and BJ’s Wholesale Club, which all own their stores, also anchor Hamilton Marketplace for a critical mass of nearly a million square feet of retail that is 99% occupied.
Brad Nathanson, executive director, and JP Colussi, senior director of Marcus & Millichap’s Institutional Property Advisors division represented the seller, SITE Centers, and procured Lakewood-based Paramount Realty.
Constructed in phases beginning in the early 2000s, Hamilton Marketplace is located approximately eight miles south of Princeton at the confluence of New Jersey Route 130 and Interstate 195, which feeds into the New Jersey Turnpike, two miles from the shopping center. The highway network provides direct access to Philadelphia and New York in approximately an hour’s drive and is a key logistical hub for industrial and warehousing operations.
