Franklin Court at 920 Hamilton St. in Somerset — Courtesy: Cushman & Wakefield
By Joshua Burd
Adoni Property Group has sold a retail center in the Somerset section of Franklin for nearly $13 million, brokers with Cushman & Wakefield announced Tuesday.
Located three miles from Rutgers University’s flagship campus, the property known as Franklin Court comprises 42,116 square feet near Route 27. KFC and Walgreens anchor the center at 920 Hamilton St., the brokers said, noting that both tenants have drive-thrus.
C&W’s Andrew Schwartz, Jordan Sobel, Seth Pollack and Andre Balthazard represented the seller and procured the buyer, LJL Realty Co., in the $12.95 million deal.
“Franklin Court is a strategically located shopping center, offering convenience and accessibility to its dense surrounding residential population,” Sobel said. “This asset has experienced historically strong occupancy and offers a solid in-place cash flow with an unbeatable tenant mix.”
