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EAST BRUNSWICK, NJ-Onyx Equities LLC of Woodbridge, NJ and RPC Real Estate LLC of Moorestown, NJ have teamed up to acquire Summerhill Marketplace, an 80,000-sf shopping center here. Located on Summerhill Rd. off Route 18, the property is anchored by an A&P supermarket.

The identity of the seller and the sale price were not disclosed. For the year-old Onyx, a private real estate investment company, the latest acquisition bumps its holdings up past the 1.2 million-sf mark of office and retail properties. The company has invested some $200 million so far this year, according to John Saraceno, Jr., who co-manages Onyx with Jonathan Schultz.

"Our focus is on acquiring and investing in properties throughout the tri-state area," says Schultz. "The acquisitions we have closed to date have been in partnership with several top investment groups."

Among the recent acquisitions is the 165,000-sf office building at 2 Montgomery St. in Jersey City, NJ, which Onyx bought in partnership with Rockwood Capital Corp. The company also teamed up with Invesco Real Estate to buy the Lincoln Equities/Investcorp office portfolio in New Jersey for $145 million, and partnered with the Prescott Group to buy the 80,000-sf office building at 8-10 Wright St. in Westport, CT.

Instant Insights /

Onyx and RPC Buy 80,000-SF Shopping Center

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