Metro Commercial Real Estate Negotiates Sale of Festival at Hamilton Shopping Center in Mays Landing, NJ

MOUNT LAUREL, NJ – March 2, 2006 – Metro Commercial Real Estate, the region’s premier full-service retail real estate company, has brokered the sale of the Festival at Hamilton Shopping Center, a 182,206-square-foot grocery-anchored community shopping center located in Mays Landing, New Jersey.

Metro Commercial’s Paul Rumley represented AMC Delancey Group, Inc., a Philadelphia-based national real estate investment company in the transaction.  Over the past three years, Metro Commercial has also served as property manager of the facility, assisting AMC Delancey in negotiating several tenant relocations and building occupancy of the center to 94%.  Paramount Realty Services, Inc. purchased the shopping center in late October for $21.2 million.

A 57,000-square-foot Acme Markets Superstore anchors the center, located at 3950 Black Horse Pike in Mays Landing. Other notable tenants include Blockbuster Video, Boaters World and Pier One Imports.
 
“Festival at Hamilton has become a true asset to the residents of Mays Landing,” says Paul Rumley, Senior Vice President of Metro Commercial Real Estate’s Investment Sales division, “We are pleased that our affiliation with AMC Delancey has led to a successful repositioning of the center and has attracted several desirable retailers to this community.” 

Media Contact:
Metro Commercial Real Estate
Jamie Joffe
+610 246 2606
jjoffe@metrocommercial.com

About Metro Commercial:
Metro Commercial Real Estate, Inc. (www.MetroCommercial.com) is one of the area's leading brokerage firms focusing on the leasing, sale, and expansion of retail properties throughout the region. Founded in 1987, Metro Commercial specializes in retail tenant representation, shopping center leasing, property management, investment property sales, construction services and enclosed malls. With 3 offices throughout Pennsylvania and New Jersey, Metro Commercial currently serves as the exclusive leasing agent for more than 180 retail properties, totaling in excess of 14 million square feet. Metro Commercial has been recognized as one of the “Best Places to Work” by the Philadelphia Business Journal, and is committed to client satisfaction and superior customer service.