Officials with Prestige Properties, new owner of the center, say the firm looks forward to providing a high level of service.
Prestige Properties, a New York City-based real estate development firm, has acquired Centerton Square shopping center for $130 million.
Centerton Square is a 426,436-square-foot regional shopping destination located at 2 Centerton Road in Mt. Laurel and anchored the Wegman’s grocery store.
According to Prestige Properties, the center measures 700,000 square feet when shadow anchors Target and Costco are included.
According to officials, Centerton Square was nearly fully leased at the time of the sale.
The seller was Black Creek Diversified Property Fund, Inc., a real estate investment management trust.
“Centerton Square offers something for everyone. We are pleased to welcome this premier property to our company and look forward to providing the highest level of service and quality for our shoppers,” said Sam Shalem, chairman and CEO of Prestige Properties & Development, Inc.
The shopping center features more than 40 stores, including national retailers such as DSW Shoes, TJ Maxx, Bed Bath & Beyond and more.
Prestige Properties is a real estate development company based out of New York City. The firm and operates a diverse group of commercial properties and shopping centers throughout the East Coast.
