Lisa Palmer Of Regency Centers Acquires Westwood Plaza Shopping Center In NJ For $28.8M

The transaction involves the sale of the Westwood Plaza Shopping Center, located at 700 Broadway in Westwood, NJ. The asset type is retail, and the agreed transaction price is $28,800,000. The buyer has placed a $1.2 million earnest money deposit into escrow as part of the agreement.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $28,800,000
• Buyer: Lisa Palmer - Regency Centers
• Seller: Robert Hekemian - First Real Estate Investment Trust of New Jersey
• Earnest Money Deposit: $1,200,000
• Market: Westwood, NJ

This deal is subject to customary due diligence and closing conditions, with the property being sold on an as-is basis. If the buyer defaults, the seller retains the earnest money deposit.