X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(For more retail coverage, click GlobeSt.com/RETAIL.)

ATLANTIC CITY-A 10,000-sf ground-floor retail parcel in the City Center mixed-use building here has been leased by AC Super and Convenience. The store cut the ribbon for its location this week. Terms of the lease were not disclosed.

Investment firm Diversified Capital, based in Lakewood, purchased City Center two years ago in June 2004. “The opening of an AC Super & Convenience at the City Center addressed a long-standing need in the community for a high-quality grocery in the area,” says Aron Gottlieb, senior vice president of Diversified Capital. “Since we acquired the property in June of 2004, we have invested substantially to restore this famous city landmark.”

The 85%-leased building’s current roster includes the New Jersey Board of Education, the State of New Jersey Department of Gaming and Bank of America. The top floor is currently vacant.

Diversified Capital acquires troubled properties and holds them for long-term portfolios. It owns property in New Jersey, Connecticut, Pennsylvania, Virginia and Texas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.