David Hamm Of Wafra Inc And Steve Hittman Of Crossroads Companies Acquire Retail Property In Ramsey

The asset involved in this transaction is the 348,742-square-foot Interstate Shopping Center located at Rt. 17 & Franklin Turnpike in Ramsey. This retail property is grocery-anchored, housing 42 tenants including notable retailers such as ShopRite, TJ Maxx, and Ulta Beauty. It attracts more than 4.3 million annual visitors along the Route 17 corridor.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not specified
• Address: Rt. 17 & Franklin Turnpike
• Market: Ramsey
• Asset Size: 348,742 square feet
• Buyer: David Hamm - Wafra Inc; Steve Hittman - Crossroads Companies
• Broker: CBRE
• Mortgage Broker: Axiom Capital

Wafra Inc. formed a joint venture with Crossroads Companies for the acquisition of the shopping center. CBRE was responsible for arranging this joint venture, while Axiom Capital facilitated the acquisition financing for the asset.