Colliers Tapped to Sell The Shoppes at Foxmoor in Robbinsville

ROBBINSVILLE, N.J. - June 21, 2018 - PRLog -- Colliers International Group Inc. has been hired to sell The Shoppes at Foxmoor, located at 1095 Washington Boulevard in Robbinsville, N.J. Colliers is marketing the 125,295-square-foot retail asset in conjunction with Ten-X.com, an online auction platform. The auction is slated for July 30 through August 1, 2018.

The Colliers NJ Investment Sales Team led by Jacklene Chesler, which includes Patrick Norris, Matthew Brown and Angelo Vitale, based in the global commercial real estate services firm's Parsippany, N.J., office, is handling the assignment on behalf of a special servicer client.

"The Shoppes at Foxmoor offers an attractive value-add investment opportunity to purchase a well-located, neighborhood retail asset at below replacement cost," said Chesler. "The 19-acre property is 41% occupied and offers tremendous upside, which can be achieved through investment in capital upgrades and implementing an aggressive lease-up plan."

The center's current diverse tenant mix  is comprised of mostly e-commerce resistant users, including medical (31%), restaurants (24%), lifestyle (20%), financial (13%), and health and beauty (5%).

The Shoppes at Foxmoor benefits from excellent visibility along Route 33, which has a combined average daily traffic volume of over 40,000 cars. The property is within minutes of major travel routes including Route 130 and Interstates 195 and 295, as well as concentrated industrial and office campuses including the 480-acre Matrix Business Park, the 1.4-million-square-foot Horizon Center office park and the 300,000-square-foot Hamilton Business Center.

The Shoppes at Foxmoor is in walking distance to Town Center, a mixed-use development with over 900 residential units and 220,000 square feet of retail and office space. "The success of this project offers a prime opportunity to reposition or redevelop The Shoppes at Foxmoor," noted Chesler.

Strategically situated approximately one hour from both New York and Philadelphia, Robbinsville boasts a strong economy and a median household income of $106,000, which is 42% higher than the state average. Over the past decade, the municipality has attracted Fortune 500 companies including Amazon and its 1,800 local employees, Mercedes-Benz, Falken Tire, and Lay-Z-Boy. In addition, nearly 12 million square feet of warehouse space provides easily accessible supply chains for retailers.

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