Terms of the sale, including the price, were not disclosed. However, according to Byron Kotzas of Crossroads Realty Inc. of Toms River, NJ, who represented the seller, "this sale is one of the largest multi-million-dollar sales in Ocean County." In the transaction, Kay Realty and Holualoa Arizona were represented by Kay's William Klein.
Located in the Whiting section of Manchester Twp., Whiting Shopping Center was developed in the late 1970s to serve as a "downtown" for Crestwood Village, a retirement community built by the Jackson, NJ-based Cos. of Crestwood. The community itself has grown to more than 11,000 homes with nearly 20,000 residents.
The new owners plan to rename the property The Whiting Town Center as part of a general upgrade, according to Klein. Plans call for renovations to the shopping center's exterior and several stores, construction of new bus stops, parking lots and walkways. Kay Realty will provide leasing and local asset management, and Levin Management Co. of North Plainfield, NJ has signed on as day-to-day property manager.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
