The property has a couple of notable strengths that made it an attractive take-over target. The first is its location--right across Route 544 from Deptford Mall, an enclosed regional mall that is one of South Jersey's largest and most successful shopping center properties.

The second is its tenant mix. In its 202,000 sf is crammed a tenant roster that includes such "category killers" as OfficeMax, PETsMART, TJ Maxx, Marshalls, Michael's and JoAnn Fabrics.

"This is the kind of property we're looking for," says Brad Hutensky, president of the Hutensky Group and a principal of Deptford X. The Hutensky Group will manage, lease and market the property.

"It has a number of big-box tenants in place," he continues, "and it provides the opportunity to lease up to an additional 25,000 sf of in-line space. There is also the potential to develop a 10,000 sf to 20,000 sf of retail space on a pad site.

"The community's retail areas are well-established and are continuing to expand," Hutensky says. "We will try to build on this retail line-up."

Indeed, Hutensky has established a track record of adding value to retail properties, many of them distressed, and in many cases in distressed areas. Brad Hutensky himself is an active participant in urban retail initiatives, including an urban alliance program co-sponsored by the International Council of Shopping Centers, the Council for Urban Economic Development and other professional economic development associations.

The Hutensky Group has been in business since 1979, and since then has bought and sold, managed and leased, and built and rebuilt more than 18.5 million sf of shopping centers. Besides its Hartford base, it maintains regional offices in Grand Rapids, MI and White Plains, NY.

Instant Insights /

Partnership Buys 202,000-SF Strip Mall with Notable Tenant Mix

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