Shopping center sold for $10m.

AMC Delancey Group, Inc., a Philadelphia-based national real estate investment company, announced the disposition of Princeton Meadows Shopping Center located in Plainsboro, New Jersey for $10 million. The buyer was Princeton Meadows Holdings, LLC.

The 66,000 s/f retail center was sold after a seven-year hold in which AMC Delancey repositioned and stabilized the property. AMC Delancey anchored the center with an Asian Grocer store to serve the community's shopping needs and brought the property to 100% occupancy.

Andrew Kleeman, Vice President of Asset Management, and Matthew Kelly, Asset Manager, at AMC Delancey, served as in-house representatives for this transaction, while Paul Rumley of Metro Commercial Real Estate served as outside advisor.

"AMC Delancey is consistently focused on creating value in each community we invest in. Princeton Meadows Shopping Center represents an outstanding example of our value-creation strategy at work. We were able to transform the retail property into a viable community shopping center that served the local residents extremely well," said Kenneth P. Balin, President and CEO of AMC Delancey Group. "At the same time, we were able to provide our investors with an IRR of almost 17% on their investments."