The Shoppes at Foxmoor at 1095 Washington Blvd. in Robbinsville — Courtesy: Colliers International
By Joshua Burd
An out-of-state investor has acquired a 125,295-square-foot shopping center in Robbinsville, following a three-month marketing effort by Colliers International and Ten-X.
The real estate services firm said the private buyer was among 12 qualified, active bidders for The Shoppes at Foxmoor at 1095 Washington Blvd. Located off Route 33, the 19-acre property has a combined average daily traffic volume of more than 40,000 cars, Colliers said, while also touting its value-add potential as a draw for both private and institutional investors.
Terms were not disclosed.
A Colliers team led by Jacklene Chesler, Patrick Norris, Matthew Brown and Angelo Vitale marketed the complex in conjunction with Ten-X, an online transaction platform for commercial real estate, according to a news release. The real estate services firm also leveraged the firm’s proprietary investor database and secured the buyer.
“The Shoppes at Foxmoor is a well-located, neighborhood retail asset,” Chesler said. “The property was (36 percent) occupied at the time of sale with tenants that are e-commerce resistant, including medical, restaurants, lifestyle financial, and health and beauty.”
Colliers touted The Shoppes at Foxmoor’s proximity to the new mixed-use Town Center development in Robbinsville, along with its access to Route 130 and interstates 195 and 295. The property is also near campuses including the 480-acre Matrix Business Park, the 1.4-million-square-foot Horizon Center office park and the 300,000-square-foot Hamilton Business Center.