Aldrich 9 Plaza Shopping Center sells for $6.422M in deal arranged by Gebroe-Hammer Associates
HOWELL, NJ — Aldrich 9 Plaza, a 28,660 s/f neighborhood retail center in Howell has been sold for $6.422 million in a transaction arranged by Gebroe-Hammer Associates’ president Ken Uranowitz and vice president Adam Zweibel. The firm exclusively represented the seller Aldrich Nine Associates LLC and procured the buyer, Aldrich III LLC. Located on U.S. Route 9 North between Aldrich Road and Moroz Street, the single-story multi-tenant center abuts and is contiguous with Aldrich Plaza Shopping Center. The former is anchored by Walgreens and the latter by a Bed Bath & Beyond. “Conveniently located at one of the busiest intersections in the Howell trade area, Aldrich 9 Plaza was fully occupied at the time of sale with a nicely balanced tenant roster,” said Zweibel, the firm’s Central Jersey market specialist. Built in 1988, Aldrich 9 Plaza includes the 15,167 s/f Walgreens; 10,393 s/f Howell Medical Pavilion/RJWBarnabas Health; and 3,100 s/f Big City Bagels. According to Zweibel, more than 47,700 vehicles pass the property each day along Route 9 and over 135,934 people reside within a five-mile radius of the shopping center.