HFF closes center sale.Holliday Fenoglio Fowler, L.P. closed the sale of Keyport Plaza, a 75,914 s/f, grocery-anchored shopping center in Keyport, New Jersey Keyport is a Borough in Monmouth County, New Jersey, United States. As of the United States 2000 Census, the borough population was 7,568. Keyport's nickname is the "Pearl of the Bayshore" or the "Gateway to the Bayshore". . Senior managing director Jon Mikula and director Jim Cadranell (HFF HFF Hochschule für Fernsehen und Film München (Germany) HFF Heartland Film Festival HFF Hardy Fern Foundation HFF Half Forward Flank (football position) HFF Horizontal Flute Factor New Jersey) and senior managing directors Joe Morningstar and Glenn Whitmore, and managing director Andrew Scandalios (HFF New York) marketed the property on behalf of the seller, Keyport Plaza Associates, LLP. An affiliate of BLDG BLDG Building Acquisition purchased 100% fee simple interest in the property for $16.5 million. Keyport Plaza has a main building totaling 66,076 square feet with a 57,117 square feet occupied by anchor Stop & Shop and 11,932-square-foot attached satellite retail building. The property also has two pad sites totaling 9,838 square feet. The property is 97% occupied by tenants including IHOP IHOP International House Of Pancakes (restaurant chain) iHOP Information Hyperlinked Over Proteins IHOP International House of Prayer IHOP International H2O Project IHOP International House of Pain , The Office Beer Bar & Grill and Ladies Workout Express. The 8.66-acre Keyport Plaza site fronts Routes 35 and 36, and is less than a mile from the Garden State Parkway The Garden State Parkway is a 172.4-mile (277-km) limited-access toll parkway that stretches the length of New Jersey from the New York state line at Montvale, New Jersey, to Cape May at the southern tip of the state. Its name refers to the state nickname, the "Garden State". . "Keyport Plaza represented the opportunity to acquire a recently built, highly visible shopping center in one of the country's most active, retail markets," said Mikula. |
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