The Shoppes at Foxmoor at 1095 Washington Blvd. in Robbinsville
By Joshua Burd
Brokers with Colliers International have been tapped to sell a Robbinsville shopping center off Route 33, working in conjunction with the online auction platform Ten-X.
The real estate services firm announced it was seeking would-be buyers for The Shoppes at Foxmoor, a 125,295-square-foot property at 1095 Washington Blvd. The complex is less than half-occupied, but is home to a mix of tenants ranging from medical users and restaurants to lifestyle and financial businesses.
The marketing effort by Colliers and Ten-X includes an online auction slated to run from July 30 through Aug. 1.
The Colliers investment sales team includes Jacklene Chesler, Patrick Norris, Matthew Brown and Angelo Vitale, who are based in the firm’s Parsippany office. They are working on behalf of a special servicer client.
“The Shoppes at Foxmoor offers an attractive value-add investment opportunity to purchase a well-located, neighborhood retail asset at below replacement cost,” Chesler said. “The 19-acre property is 41 percent occupied and offers tremendous upside, which can be achieved through investment in capital upgrades and implementing an aggressive lease-up plan.”
Colliers said the complex benefits from visibility along Route 33 and is within minutes of major travel routes such as 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.
The Shoppes at Foxmoor is also within walking distance of Town Center, a mixed-use development with more than 900 residential units and 220,000 square feet of retail and office space. Chesler said the success of that project “offers a prime opportunity to reposition or redevelop The Shoppes at Foxmoor.”