Franklin retail center sold for $12.95 million

From Staff Reports
·1 min read

FRANKLIN (Somerset) – Franklin Court retail center sold for $12.95 million, Cushman & Wakefield, a real estate services firm, announced on Aug. 16.

The 42,116-square-foot retail center, located at 920 Hamilton St. in the Somerset section of the township, is anchored by Walgreens and KFC, both of which are drive-thru equipped.

Cushman & Wakefield’s Andrew Schwartz, Jordan Sobel, Seth Pollack and Andre Balthazard represented the seller, Adoni Property Group, and procured the buyer, LJL Realty Co., in the transaction.

“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.”

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The property is located near Route 27 and is within 3 miles of Rutgers University.

This article originally appeared on MyCentralJersey.com: Franklin Court retail center sold for $12.95 million