DRA Advisors And Soundwater Properties Acquire Ocean County Shopping Center Portfolio From Pasbjerg Development Co

A three-property shopping center portfolio was acquired in a transaction involving a total square footage of 376,462. The properties are located at 860 Fischer Boulevard, 260 North County Line Road, and 344 US-9 within the markets of Toms River, Jackson Township, and Lacey Township. The portfolio, which is anchored by ShopRite, includes Bay Plaza, Jackson Plaza, and Lacey Mall, and has an occupancy rate of 94% with strong tenant stability.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not specified
• Buyer: David Luski & Brett Gottlieb - DRA Advisors; Soundwater Properties
• Seller: Steve Nussbaum & Geoff Adler - Pasbjerg Development Co.
• Brokers: Casey Smith, Chris Munley, Colin Behr, Ryan Sciullo, Michael Pascavis & RJ Mirabile - CBRE

DRA Advisors, in partnership with Soundwater Properties, was involved in the acquisition, which marks a significant transaction in the retail sector of Ocean County, New Jersey. The sale was facilitated by Pasbjerg Development Co., with CBRE serving as the brokerage firm managing the deal.