Joint venture sinks money into New Jersey mall

Major retailers anchor site

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A joint venture between Investcorp and Fidelity-AMG Realty Partners has purchased the 775,000-square-foot Seaview Square retail center in Ocean Township, N.J. Starwood Heller sold the 118-acre property for an undisclosed price. Located at 2301 Route 66, at the intersection of Routes 66, 18 and 35, the shopping center was 80 percent leased to Costco, Target Greatland, Radio Shack, Starbucks and Applebee's at the time of sale. The property has 5,000 parking spaces and offers an additional 127,000 square feet of future development potential. Cushman & Wakefield's Metropolitan Area Capital Markets Group, which orchestrated the sale on behalf of both parties, specializes exclusively in real estate sales, joint ventures and financing in northern New Jersey; Fairfield County, Conn.; and Long Island and Westchester County, N.Y. *** What's your opinion? Send your Letter to the Editor to