The Kislak Co., Inc. announced the successful exclusive sale of the Livingston Shopping Center, a 38,813-square-foot neighborhood retail property located at 20 Elizabeth Street in New Brunswick, Middlesex County. The asset traded for $9,300,000.
Executive Vice President Barry Waisbrod handled the exclusive assignment on behalf of the longtime seller, JLS Professional, LLC, and also procured the purchaser, Livingston Shopping Center, LLC.
Anchored by a supermarket, the neighborhood retail center features a diverse roster of necessity-based and community-serving tenants, including Dunkin’ and an on-site laundromat. The property offers stable cash flow supported by long-term leases extending through 2043, a triple-net lease structure with strong expense recoveries, and below-market rents that present future upside potential.
“The property had been owned by the seller for many years and our exclusive offering provided investors with a rare opportunity to acquire a stabilized grocery-anchored shopping center in one of central New Jersey’s most established commercial markets,” Waisbrod said. “The purchaser acquired the property as a long-term investment and plans to continue operating the center while capitalizing on future rental growth by enhancing the supermarket and making other improvements.”
