LIVINGSTON, NJ-Gebroe-Hammer Associates, the real estate sales firm based here, has arranged the sale of three shopping centers in separate transactions in Central and Southern New Jersey. The three properties, totaling 77,000 sf, traded for a combined $7.5 million.

According to G-H managing director Kenneth Uranowitz, the transactions were handled by the firm’s senior vice president Joel Schwartz and assistant vice president Avi Oren. The buyers and sellers were not identified, with Uranowitz describing them only as “longtime Gebroe-Hammer clients.”

The largest property is a 40,000-sf facility with a small office component located at 450 Amwell Rd. in Hillsborough, NJ. Financing for the transaction involved all cash over a new first mortgage, with Oren assisting the buyer in obtaining the financing. The retail portion of the property is currently 100% leased, according to Uranowitz, and the office portion has a limited amount of space available.

The second sale involves Cooper Corner Shopping Center, an 18,000-sf, 100%-leased retail property in Voorhees, NJ. The transaction was all-cash, with the purchaser obtaining a new first mortgage with G-H assistance.

The final property sold is Wedgewood Plaza Shopping Center in Sewell, NJ. The 15,000-sf Gloucester County property is 100% leased, and the new owners plan a number of improvements and upgrades, according to Uranowitz.

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