This purchase was in line with our investment strategies, and we have an aggressive goal to deploy more capital in new investment and development projects through 2015” says ABS Management’s President, Reuven Rivlin
New York, NY (PRWEB) June 08, 2015
ABS Management & Development, announced today that it has completed the acquisition of Millside Plaza, an 80,000 square foot retail plaza in Millside, New Jersey.
The acquisition is from Kimco Realty Corporation Real Estate Investment Trust which is headquartered in New Hyde Park, New York, and is North America’s largest publicly traded owner and operator of neighborhood and community shopping centers.
The shopping center is a shadow anchor to Target Corporation and includes tenants such as Pet Smart, Party City, Rite Aid, and Panera Breads among others.
The center is located on route 130 in Delran NJ. The center was purchased for $14.2 Million dollars.
ABS Management & Development , a private real estate investment group run by Reuven Rivlin is based in Brooklyn New York and focuses on value-add retail centers throughout the United States and Canada, as well as real estate development projects in New York City.
“This purchase was in line with our investment strategies, and we have an aggressive goal to deploy more capital in new investment and development projects through 2015” says ABS Management’s President, Reuven Rivlin.
Marc Friedman of ABS says “We are constantly looking for opportunities to expand our portfolio, and this purchase compliments this strategy”.
Joel Warfman represented ABS Management & Corporation.
CBRE represented Kimco Realty Corporation.
About ABS Management & Development:
Spanning 20+ years, ABS Management & Development’s mission remains to identify hidden development potential in underutilized properties and reimagine them for attractive profits without ungainly risk factors. As part of our core values, we choose to collaborate with forward-thinkers, visionaries, and creatives both within the industry and immediately outside it. Without exception, our proudest projects were, and continue to be, the result of many minds pursuing common goals to perfection.
For media inquiries or for more information, contact:
New Jersey Office
26 Pine Boulavard