{"id":9886,"date":"2017-05-29T11:10:20","date_gmt":"2017-05-29T11:10:20","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=9886"},"modified":"2026-04-07T17:10:03","modified_gmt":"2026-04-07T14:10:03","slug":"urban-edge-properties-nabs-325m-retail-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/urban-edge-properties-nabs-325m-retail-portfolio\/","title":{"rendered":"Urban Edge Properties Nabs $325M Retail Portfolio"},"content":{"rendered":"<p>Paramus, N.J.-based Urban Edge Properties recently announced the acquisition of a seven-asset, 1.5 million-square-foot retail portfolio in the <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/ny\/new-york-city\/\" target=\"_blank\" rel=\"noopener noreferrer\">New York City<\/a> metro area and <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/mo\/\" target=\"_blank\" rel=\"noopener noreferrer\">Missouri<\/a>. The company shelled out $325 million to acquire the privately-owned portfolio, which was 83% leased at the time of sale.<\/p>\n<p>The portfolio consists of seven retail assets spread across New York, New Jersey and Missouri, as follows:<\/p>\n<ul>\n<li><strong>Yonkers Gateway Center<\/strong> in <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/ny\/yonkers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Yonkers, N.Y.<\/a> \u2013 the 436,770-square-foot retail center was 88% leased to tenants such as Burlington, Best Buy, PetSmart and DSW;<\/li>\n<li><strong>The Plaza at Woodbridge<\/strong> in <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/nj\/middlesex-county\/woodbridge\/\" target=\"_blank\" rel=\"noopener noreferrer\">Woodbridge, N.J.<\/a> \u2013 81% occupied at the time of sale, the 413,013-square-foot shopping center is home to tenants such as Toys \u201cR\u201d Us, Best Buy and Raymour &amp; Flanigan;<\/li>\n<li><strong>The Plaza at Cherry Hill<\/strong> in <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/nj\/cherry-hill\/\" target=\"_blank\" rel=\"noopener noreferrer\">Cherry Hill, N.J.<\/a> \u2013 the 412,969-square-foot property was 74% leased at the time of sale, with tenants including Raymour &amp; Flanigan, Aldi and LA Fitness;<\/li>\n<li><strong>Manchester Plaza<\/strong> in Manchester, Mo. \u2013 boasting 89% occupancy, the 130,934-square-foot shopping center is home to Academy Sports and Bob\u2019s Furniture, among others;<\/li>\n<li><strong>Millburn Gateway Center<\/strong> in <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/nj\/millburn\/\" target=\"_blank\" rel=\"noopener noreferrer\">Millburn, N.J.<\/a> \u2013 home to Trader Joe\u2019s, CVS and PetSmart, the 102,725-square-foot asset was 97% leased at the time of sale;<\/li>\n<li><strong>21 E. Broad St.\/One Lincoln Plaza<\/strong> in Westfield, N.J. \u2013 the 21,908-square-foot, fully-occupied shopping center is home to tenants such as PNC Bank, Five Guys and Cake Boss.<\/li>\n<\/ul>\n<p>According to <em><a href=\"https:\/\/rebusinessonline.com\/urban-edge-properties-acquires-retail-portfolio-in-northeast-midwest-for-325m\/\" target=\"_blank\" rel=\"noopener noreferrer\">REBusiness Online<\/a><\/em>, the portfolio had been owned by New Jersey-based Acklinis Realty for more than 30 years. The contributors reportedly exchanged their property interests for roughly $122 million of Urban Edge operating partnership units, while the buyer assumed $33 million of existing mortgage debt, issued $126 million of new non-recourse, secured mortgage debt and funded the remaining $44 million in cash.<\/p>\n<p>Newmark Grubb Knight Frank represented the seller in the transaction, while Goodwin Procter LLP served as legal advisor to Urban Edge Properties. The legal team advising the seller was coordinated by Ira Meislik of Meislik &amp; Meislik.<\/p>\n<p><em>By Ioana Neamt<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paramus, N.J.-based Urban Edge Properties recently announced the acquisition of a seven-asset, 1.5 million-square-foot retail portfolio in the New York City metro area and Missouri. The company shelled out $325 million to acquire the privately-owned portfolio, which was 83% leased at the time of sale. The portfolio consists of seven retail assets spread across New&hellip;<\/p>\n","protected":false},"author":529,"featured_media":10146,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,40],"tags":[],"class_list":["post-9886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-retail","wpautop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Urban Edge Properties Nabs $325M Retail Portfolio - 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