Wall Township, November 26, 2025
A grocery-anchored shopping center in Wall Township, New Jersey, has been sold for $32 million, marking a significant transaction in the local real estate market. Anchored by a ShopRite supermarket, the center also features tenants including Great Clips, AT&T, and OceanFirst Bank. The successful sale showcases the increasing demand for grocery-anchored retail spaces in the area, reflecting confidence in the market’s stability and investment potential.
Grocery-Anchored Shopping Center in Wall Township Sold for $32 Million
Wall Township’s real estate market demonstrates resilience as grocery retail remains a hot investment.
In a significant transaction for the real estate market, a grocery-anchored shopping center in Wall Township, New Jersey, has been sold for $32 million. Located at 2433-2445 Route 34, this shopping center is anchored by a ShopRite supermarket and houses a variety of other tenants including Great Clips, AT&T, GNC, Allstate Insurance, and OceanFirst Bank. Completed in 1997, the center underwent renovations in 2017, which included a significant expansion of the ShopRite space.
This property sale, facilitated by HFF brokers representing AEW Capital Management L.P., illustrates the growing demand for grocery-anchored retail centers in New Jersey. The buyer, DWS, a global asset manager, recognizes a valuable opportunity within this burgeoning sector. This center, situated on nearly 12 acres, stands as the sole grocery-anchored retail option along Route 34, linking neighboring municipalities such as Manasquan, Point Pleasant, Brick, and Brielle through the desired Route 35/70/34 intersection.
The Appeal of Grocery-Anchored Centers
The upswing in grocery-anchored shopping center sales reflects broader trends in the retail space. These centers are viewed as attractive investments due to their consistent ability to attract a steady customer flow seeking essential goods and services. The presence of a given major supermarket, such as ShopRite, not only draws foot traffic but also encourages additional retailers and service providers to occupy the available spaces, creating a thriving shopping environment. This positive cycle benefits both tenants and customers alike.
New Jersey’s Real Estate Climate
The successful transaction of the Wall Township center is indicative of broader investment interest in grocery-anchored retail, particularly within New Jersey. Other recent transactions in the state demonstrate this trend, including the sale of Edgewater Towne Center in Edgewater for $53.2 million and Waretown Town Center in Waretown acquired by First National Realty Partners for $41.5 million. Such transactions underline a growing confidence in the stability of grocery-anchored properties.
Key Factors for Success
The success of grocery-anchored shopping centers is closely linked to the strength of the local economy and the demographics of the surrounding community. A strong and diverse economic base enhances the appeal of such properties by providing a reliable customer base. Investors often look to local economic indicators when assessing potential investments in retail real estate, particularly in the grocery-anchored sector.
Conclusion
The sale of this shopping center in Wall Township is more than just a financial transaction; it symbolizes the resilience of the local real estate market and the continued viability of grocery-anchored retail spaces. With growing demand and a favorable investment climate, now is an opportune time for local businesses and investors to focus on cultivating economic growth. Residents are encouraged to support and engage with their local businesses, reaffirming community ties and promoting entrepreneurial innovation.
Frequently Asked Questions (FAQ)
What is the sale price of the grocery-anchored shopping center in Wall Township, New Jersey?
The grocery-anchored shopping center in Wall Township, New Jersey, was sold for $32 million.
Who were the key tenants in the shopping center?
The shopping center is anchored by a ShopRite supermarket and includes tenants such as Great Clips, AT&T, GNC, Allstate Insurance, and OceanFirst Bank.
Who facilitated the sale of the property?
The sale was arranged by brokers with HFF, who represented AEW Capital Management L.P. in the transaction. The buyer was DWS, a global asset manager.
What is the significance of this sale in the context of New Jersey’s real estate market?
This sale reflects the ongoing demand for grocery-anchored retail centers in New Jersey, indicating a strong interest in such properties as stable investments in the region.
Why are grocery-anchored shopping centers considered attractive investments?
Grocery-anchored shopping centers are attractive investments due to their ability to attract a steady stream of customers seeking essential goods and services, creating a vibrant shopping environment that benefits both tenants and customers.
How do the demographics of the surrounding community affect the success of these centers?
The success of grocery-anchored shopping centers is closely tied to the strength of the local economy and the demographics of the surrounding community, factors that continue to make them appealing to investors.
Key Features of the Wall Township Shopping Center
| Feature | Details |
|---|---|
| Sale Price | $32 million |
| Location | 2433-2445 Route 34, Wall Township, New Jersey |
| Anchor Tenant | ShopRite supermarket |
| Additional Tenants | Great Clips, AT&T, GNC, Allstate Insurance, OceanFirst Bank |
| Property Size | Nearly 12 acres |
| Completion Year | 1997 |
| Renovation Year | 2017 (ShopRite expansion) |
| Sale Facilitators | HFF brokers representing AEW Capital Management L.P.; Buyer: DWS |
| Significance | Reflects ongoing demand for grocery-anchored retail centers in New Jersey |
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