Larken Associates Acquires 106,000 sf (+/-) of Retail and Medical Space in Warren County
Larken Associates is proud to announce the acquisition of The Village at Hawk Pointe, including The Village Shoppes at Hawk Pointe and Hunterdon Healthcare Medical Center in Washington Township, New Jersey. The three building complex adds another 106,415 sf (+/-) of prime, mixed-use retail and medical office space to Larken Associates’ rich and expanding portfolio throughout New Jersey, New York and Eastern Pennsylvania.
The Village Shoppes at Hawk Pointe is a 81,415 sf (+/-) retail center offering shopping space for rent that is anchored by a highly successful 65,000 sf (+/-) ShopRite. Backed by Village Supermarkets, one of the most successful ShopRite operators, the supermarket is a long-term, stable anchor for The Village Shoppes at Hawk Pointe boasting a 43% sales market share in Warren County. That’s nearly four times the market share of its closest competitor. The Village Shoppes at Hawk Pointe is also home to many other successful local and national brands including Anytime Fitness at 3,907 sf (+/-), Mountain Valley Liquor at 4,508 sf (+/-), Masa Sushi at 1,924 sf (+/-) and Visions Federal Credit Union at 1,968 sf (+/-).
“Our team is excited to have acquired such a high value grocery-anchored asset in northwest New Jersey,” said Robert J. Marek, EVP of Larken Associates’ Commercial Real Estate Division. “We are committed to expanding and extending our portfolio with diversified investments throughout the tri-state area.”
Larken Associates also welcomes a 25,000 sf (+/-) single-tenant building offering medical office space for rent to their portfolio, fully leased by Hunterdon Healthcare. Hunterdon Healthcare is a Fitch A+ rated, multi-specialty outpatient facility and the dominant medical facility in the area. It is part of a single-hospital healthcare system based in Hunterdon County and is recognized as a top 10% performer among hospitals nationwide. Hunterdon Healthcare has committed to providing quality healthcare to patients in the Washington Township.
The Village at Hawk Pointe is surrounded by an affluent and educated population base in Warren County. Roughly 57% of residents are in possession of some college degree and earn a household income of more than $101,000. Positioned in a Highlands Planning Area, the property is primed for continued success. The Highlands Water Protection and Planning Act restricts the amount of retail development permitted in Warren County, solidifying The Village at Hawk Pointe’s position as the area’s leading shopping, lifestyle and medical care destination.
The Village at Hawk Pointe on Route 31 is easily accessible via Interstates 78 and 80, crossing through the center of Warren County. Residential development has increased dramatically along these two corridors, as commuters to and from the Philadelphia and New York markets continue to seek a more family-friendly, convenient and residential lifestyle. The Village at Hawk Pointe is located within a 65-acre mixed-used development community with 120 single-family homes and the prestigious Hawk Pointe Golf Club. It is tagged for additional expansion projects - 200 additional single-family units and townhouses, 53,000 sf (+/-) of commercial space, 20-30 hospitality rooms and a new, state of the art assisted living community.
The Village at Hawk Pointe is located within a “live, work, play” community and is a winner of the Warren County Presidential Strategic Thinking Award. As the only grocery-anchored shopping center within 10 miles, The Village at Hawk Pointe is a highly attractive and prosperous mixed-use retail and medical office center for consumers in the Allentown-Bethlehem-Easton, PA-NJ Metropolitan Statistical Area.
For commercial leasing information, call Larken Associates at (908) 874-8686, or visit www.LarkenAssociates.com.
About Larken Associates
A two-generation, family-owned business since 1965, Larken Associates is widely recognized as one of the region’s fastest growing and most well-respected real estate firms. Based in Branchburg, NJ, Larken is responsible for developing and managing prominent residential and commercial projects throughout New Jersey, New York and Eastern Pennsylvania.