Franklin retail center sold for $12.95 million

From Staff Reports

FRANKLIN (Somerset) – Franklin Court retail center sold for $12.95 million, Cushman & Wakefield, a real estate services firm, announced on Aug. 16.

The 42,116-square-foot retail center, located at 920 Hamilton St. in the Somerset section of the township, is anchored by Walgreens and KFC, both of which are drive-thru equipped.

Cushman & Wakefield’s Andrew Schwartz, Jordan Sobel, Seth Pollack and Andre Balthazard represented the seller, Adoni Property Group, and procured the buyer, LJL Realty Co., in the transaction.

“Franklin Court is a strategically located shopping center, offering convenience and accessibility to its dense surrounding residential population,” Sobel said. “This asset has experienced historically strong occupancy and offers a solid in-place cash flow with an unbeatable tenant mix.”

Real estate:Here are the latest home sales in the Central Jersey market

Franklin Court is at 920 Hamilton St. in the Somerset section of Franklin.

The property is located near Route 27 and is within 3 miles of Rutgers University.