BURLINGTON, NJ-Hampshire & Co. Real Estate has acquired Town Crossing Shopping Center, a 91,494-square foot power center at 2703 Route 541 here, for $13.6 million or $148 per square foot. Marcus & Millichap Real Estate Investment Services’ Brad Nathanson represented both Hampshire & Co. and the seller, J.S. Hovnanian and Sons.

In a release, Nathanson, a senior director in the Philadelphia office of Marcus & Millichap’s National Retail Group (NRG),  says Hampshire & Co. bought the shopping center “because of its dominant strategic location, coupled with the fact that it was delivered free and clear of debt. In addition, the current credit-rated tenants occupying this center have below-market rents, with the majority subject to ground leases.”

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