Aldrich 9 Plaza in Howell — Courtesy: Gebroe-Hammer Associates
By Joshua Burd
A neighborhood retail center in Howell has changed hands for more than $6.4 million, following a sale arranged by Gebroe-Hammer Associates.
The brokerage on Wednesday announced the sale of Aldrich 9 Plaza, a 28,660-square-foot complex on U.S. Route 9 North between Aldrich Road and Moroz Street. Gebroe-Hammer Associates’ President Ken Uranowitz and Vice President Adam Zweibel represented the seller, Aldrich Nine Associates LLC, and procured Aldrich III LLC as the buyer.
“Conveniently located at one of the busiest intersections in the Howell trade area, Aldrich 9 Plaza was fully occupied at the time of sale with a nicely balanced tenant roster,” Zweibel said, touting daily traffic of more than 47,700 vehicles along Route 9 and some 136,000 residents within a five-mile radius of the shopping center.
The single-story, multitenant complex is anchored by a Walgreens and abuts the Aldrich Plaza Shopping Center, which is home to a Bed Bath & Beyond, according to a news release. Built in 1988, Aldrich 9 Plaza is also home to tenants including Howell Medical Pavilion/RJWBarnabas Health and Big City Bagels.
“The entire retail sector has undergone a metamorphosis as it continues to successfully adapt to new experiential spending habits,” Uranowitz said. “Well-located consumer and lifestyle hubs like Aldrich 9 Plaza have demonstrated their true resilience — and favorability among investors – by offering a balance of services like fast-casual dining, health and wellness, entertainment and education alongside traditional shopping.”
