Shopping Center is Sold for $19.8 Mil

PRINCETON, NJ-The eight-year-old Shops at Windsor Green, originally built by DKM Properties of nearby Lawrenceville, NJ, has been acquired by an affiliate of the Mainardi Management Co., a commercial real estate investment, management and leasing firm based in Wayne, NJ. The 157,463-sf property, which is located on Route 1 in this Mercer County community, changed hands for $19.8 million, according to the firm’s president, Andrew Mainardi, III.

The seller in the transaction was National Resources, based in Greenwich, CT, an affiliate of Aldrich, Eastman & Waltech. The latter firm is a pension advisor with offices on opposite coasts — Boston and Los Angeles.

Cushman & Wakefield of New Jersey’s Andy Merin and David Bernhaut, based in the company’s East Rutherford, NJ office, brokered the deal for the seller. Andrew Stewart and Devyani Gupta of David Cronheim Mortgage Corp., based in Chatham, NJ, arranged the financing package, which was provided by Bears Stearns. Blake Hornick of Pryor Cashman Sherman & Flynn, New York City, and Gary Eisenberg of Windels Marx Lane & Mittendorf, New Brunswick, NJ, served as outside counsel to the Mainardi organization.