Windsor Hights Shopping Center Sold
Advance Realty and Structure Tone Equities purchased the mainly vacant retail space.
The Windsor Hights Shopping Center on Route 130 and Princeton Hightstown Road in East Windsor has been sold to Advance Realty and Structure Tone Equities.
The shopping mall is 40 percent occupied, with 92,000 square feet of space available for lease, according to a news release.
“This acquisition presents an excellent opportunity to create one of Mercer County’s premier retail centers,” Brian M. Donaghy, president and CEO of Structure Tone Equities, said in the release.
Several storefronts in the shopping mall remain vacant, including the former Super Fresh grocery store location that closed in April 2011, Tiger's Deli which closed in Jan. 2012 and Blockbuster closed in Feb. 2012.
President and CEO of Advance Realty Peter J. Cocoziello said the company looks at the purchase as a strategic investment.
“This transaction affords us a unique opportunity to re-tenant and reposition the property, which is known for providing retailers with excellent visibility in a vibrant and dynamic submarket,” Cocoziello said in the release.
The joint-venture partnership between the two companies includes the shopping mall as well as the PNC Bank and Taco Bell locations, totaling 132,733 square feet of space. The sale was complete at the end of May, according to Ryan Smith of Beckerman PR, who representing the owners.
Additional information was not available Thursday. Patch will update this story as more information is provided.