Acquisitions
Urban Edge acquires retail properties with the potential for lease up, expansion and redevelopment in high barrier-to-entry markets.
From large grocery-anchored centers and neighborhood centers to community centers and power centers, the company pursues assets within select target markets and prefers assets located in established retail corridors.
Urban Edge is focused on working with sellers to understand their priorities and partnering to meet their financial objectives. The team can creatively structure transactions in a tax deferred manner as well as assume existing loans, if needed, to provide sellers with the best execution.
Acquisitions Focus
Urban Edge is interested in necessity and value-driven retail properties including grocery-anchored centers, neighborhood centers, community centers, and power centers. The company prefers assets with attractive yield and/or potential for value creation through leasing, redevelopment and repurposing.
With a focus on larger-scale properties, distressed/motivated sellers and assets that are complementary to our existing portfolio, Urban Edge seeks properties with NOI growth potential with below market rents, above average sales and sustainable health ratios.
Geographic Focus
Washington, D.C. to Boston corridor and other infill submarkets with high-quality demographics.
Demographics
Targeting infill locations with attractive population density and/or income levels.
Minimum Deal Size
$25 million
Return Profile
Will acquire core, core-plus, and value-add opportunities with attractive, risk-adjusted returns.
Recent Acquisition
Ledgewood Commons
Acquired April 2024
Ledgewood Commons is located in Roxbury, NJ on a densely populated retail corridor. Anchored by a recently constructed Super Walmart, the property also features Marshalls, Burlington, Ulta, Starbucks and Chipotle, as well as two outparcels approved for future development.
Recent Acquisition
Heritage Square
Acquired February 2024
Heritage Square is located in Watchung, NJ along the highly trafficked Route 22 retail corridor. Developed in 2019, the property is anchored by HomeSense and Sierra and features a variety of national retailers such as CityMD, Chick-fil-A, Ulta Beauty, and David’s Bridal. A new Starbucks pad is in development.
Recent Acquisition
Shoppers World
Acquired October 2023
Shoppers World is a premier open air shopping center located in Framingham, Massachusetts. Positioned in the center of the Golden Triangle, the largest retail destination in the Boston area, the property is anchored by Best Buy, Nordstrom Rack, TJ Maxx, Marshalls, HomeSense, and Sierra Trading. The center is also situated near Natick Mall, a top regional draw, and the corporate headquarters of Boston Scientific, TJ Maxx, Staples, and Bose.
Recent Acquisition
Gateway Center
Acquired October 2023
Gateway Center is located in Middlesex County at Revere Beach Parkway (SR16) and Mystic View Road in Everett, Massachusetts. The property is located only three miles from downtown Boston and sits on an 89-acre site with over 3,000 parking spaces in a densely populated market. The trade area features a strong and diversified employment base of manufacturing and retail companies and is positioned near several major residential, retail, and office projects. Tenants include Target, Costco and Home Depot.