Joint Venture Names Fameco as Exclusive Leasing Agent for Windsor Hights Shopping Center in East Windsor, N.J.
New Owners Plan Significant Upgrades to Reposition Prominently Located Site
A joint-venture partnership of Advance Realty and Structure Tone Equities has retained Fameco Real Estate to serve as the exclusive leasing agent for Windsor Hights Shopping Center, a 130,233-square-foot, neighborhood retail center in East Windsor, N.J.
The joint-venture partnership recently acquired the neighborhood center, which is located at 440 Route 130 South and situated at the intersection of Route 130 and Route 571 — one of the major retail corridors in the East Windsor trade area.
“We selected Fameco Real Estate for this exclusive leasing assignment because of the firm’s proven ability to re-tenant an underperforming center and increase its asset value,” said Brian Banaszynski, Managing Director of Advance Realty. “The firm has extensive contacts with premier tenants in multiple sectors.”
Windsor Hights Shopping Center currently has approximately 92,000 square feet of space available for lease, including a 53,000-square-foot anchor opportunity formerly occupied by A&P Super Fresh, providing an excellent opportunity for a new grocer or other suitable anchor. The center features two pad sites that are currently occupied by PNC Bank and Taco Bell, and other tenants include Staples, Benjamin Moore and Payless Shoe Source.
Additionally, the joint venture intends to invest significant capital to approve the appearance and operations of the center including building systems, façade improvements, property signage, on-site landscaping and parking lot repairs.
“We are excited to have the opportunity to serve as exclusive leasing agent for Windsor Hights Shopping Center, which is ideally located in a densely populated market with strong household incomes and impressive traffic numbers of more than 42,000 vehicles per day,” said Jay Miller, Partner, Fameco Real Estate. “We will strategically select new in line retail tenants that will complement the center’s unique tenant mix.”Fameco specializes in retailer representation, owner representation, investment sales and management services in New Jersey, Pennsylvania, and Delaware and beyond. The firm is the exclusive representative for over 200 shopping centers and retail properties totaling 18 million square feet, manages more than 11 million square feet of retail space and exclusively represents more than 75 retailers expanding in the tri-state area.
About Structure Tone Equities
Structure Tone Equities is a private equity real estate investment company focused on value-added investments involving development, redevelopment, renovation and repositioning of asset. Structure Tone Equities plays a crucial role in protecting the return for each asset – managing risk, ensuring execution, and maximizing operating efficiencies. The firm focuses on commercial office, higher education, hospitality, retail and medical office properties.
About Advance Realty
Advance Realty, headquartered in Bedminster, New Jersey, is a privately held real estate development, investment and management company. Since its inception in 1979, Advance Realty has acquired or developed more than seven million square feet of commercial, residential, mixed-use and industrial projects. Advance continues to be one of the most active and respected commercial real estate companies in the New Jersey and Washington, D.C. markets.
Advance Realty is well positioned for smart growth in its core markets. The company’s strong capital base, outstanding talent and flexibility as a privately held, fully integrated real estate company ensure continued success at the forefront of the commercial real estate industry.