Brooklyn, NY – Wasa Properties announces the acquisition of Heritage Square shopping center in South Brunswick Township (Middlesex County), New Jersey. Heritage Square is an 80,504 square feet multi-tenant shopping center that has a strong lineup of national retailers such as PetSmart, Bob’s Discount Furniture, Chase Bank, Subway, Supercuts and Dunkin Donuts.
The property is also shadow anchored by Target and ShopRite which is under development and is scheduled to open late 2019. Heritage Square was developed in 2007 and is strategically situated along US Route 1 which is one of the busiest roadways in the State of New Jersey with 60,000 vehicles passing daily in front of the center. South Brunswick Township is an affluent and densely populated market in Middlesex County that is thriving with over 500 luxury homes that were recently developed or under construction within a 1-mile radius from the property.
Heritage Square is currently 63% occupied with approximately 30,000 square feet of vacancy which presents an excellent value-add opportunity coupled with strong in-place cash flow. Wasa Properties acquired Heritage Square as part of its vision to expand in the New Jersey market with an opportunistic investment strategy and continues to seek value-add assets in the northeast, southeast, and southwest regions.
For leasing interest on this property, please contact us.