LJL Realty Acquires 190000 SF Hazlet Town Center For $44 Million From Onyx Equities

The retail asset involved in the transaction is located at 3010-3070 Route 35 in Hazlet. The sale price for the property was $44,000,000, and it encompasses a total square footage of 190,000. The property, formerly known as Kmart Plaza, is currently 90% leased and is anchored by tenants including Aldi, Burlington, and Urban Air.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $44,000,000
• Square Footage: 190,000
• Address: 3010-3070 Route 35
• Market: Hazlet
• Price Per Square Foot: $232
• Buyer: LJL Realty
• Seller: John Saraceno, Jr. & Jonathan B. Schultz - Onyx Equities

The transaction was facilitated through a property exchange with OASG Hazlet LLC, an affiliate of Onyx Equities, marking a significant acquisition for LJL Realty. The individuals involved in the sale, John Saraceno, Jr. and Jonathan B. Schultz, are associated with Onyx Equities.