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MCB, Alex Brown JV Sells Aldi-Anchored Retail Center

Prestige Pays $25.4M for 117,000-SF in East Brunswick
January 30, 2018
Prestige Properties & Development Company Inc., a Manhattan-based real estate and development firm, purchased the retail complex at 50 Race Track Rd. in East Brunswick, NJ from a partnership between MCB Real Estate LLC and Alex Brown Realty, Inc. for $25.38 million, or about $217 per square foot.

The 117,000-square-foot building was constructed in 1969 in Middlesex County. It was fully leased at the time of sale, anchored by an Aldi grocery store, Burlington Coat Factory and AutoZone.

Jose Cruz, Kevin O’Hearn, Michael Oliver and Steve Simonelli of HFF represented the sellers. The buyer handled the sale in-house.

Please see CoStar COMPS #4114570 for additional information on this transaction.
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