Joint venture shells out $32.3M for New Jersey shopping center

A New Jersey shopping center anchored by a Stop & Shop has a new owner. A joint venture comprised of KPR, formerly known as Katz Properties, and DRA Advisors bought Concordia Shopping Center in Monroe Township from Concordia Shopping Manager Corp. for $32.3 million, ROI-NJ reported. JLL marketed the 135,090-square-foot property, which is 95 percent leased. “The mid-Atlantic continues to be a focal point of our portfolio, and this acquisition deepens our ties to the region,” KPR’s managing director of acquisitions Eric Wolf said in a statement. [ROI-NJ]