Concordia Shopping Manager Corp. has sold Concordia Shopping Center, a 135,090-square-foot, Stop & Shop-anchored neighborhood shopping center in the central New Jersey community of Monroe Township.
The sales price was $32.2 million.
The new owner is a joint venture between KPR, formerly known as Katz Properties, and DRA Advisors.
Situated on 14.4 acres at 1600 Perrineville Road, Concordia Shopping Center is the only grocery store within a seven-mile radius; the nearest store is a ShopRite in East Windsor. Additionally, Concordia Shopping Center is ideally positioned as the closet retail center to the New Jersey Turnpike, which is less than three miles from the property and the dominant thoroughfare within the state. The property’s Monroe Township location places it in the southern part of Middlesex County, an affluent central New Jersey submarket, with more than 52,000 residents earning an average annual household income of $106,052. Currently 95 perce
