New York Investment Firm Picks Up South Jersey Shopping Center

Irgang Group has purchased a 393,000-square-foot shopping center in Millville, New Jersey, its second retail property acquisition in three months.

A New York-based real estate investment and management firm acquired the shopping center, called Union Lake Crossing, from Jenkintown, Pennsylvania-based Goodman Properties. Financial terms of the sale were not disclosed.

Built in 2006, Union Lake Crossing is located at the intersection of North Second Street and Union Lake Boulevard. The shopping center is anchored by ShopRite, Kohl’s and Ross. Other notable tenants located at the shopping center include Staples, PetSmart, Famous Footwear, Party City, Five Below, Buffalo Wild Wings, Moe’s Southwest Grill and Sonic. Over 95% of the property’s occupied space is held by national tenants.

*Article courtesy of Costar

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