Colliers International Group Inc. (NASDAQ:CIGI, TSX:CIG) has arranged the sale of The Shoppes at Foxmoor, located at 1095 Washington Boulevard in Robbinsville, N.J. The property benefits from excellent visibility along Route 33 — which has a combined average daily traffic volume of over 40,000 cars — and attracted robust interest from private and institutional investors.

The 125,295-square-foot retail asset situated on 19 acres was purchased by a private, out-of-state investor. The Colliers NJ Investment Sales Team represented the seller and procured the buyer. The team was led by Jacklene Chesler and included Patrick Norris, Matthew Brown and Angelo Vitale, all based in the global commercial real estate services firm’s Parsippany, N.J., office. Colliers marketed the property in conjunction with Ten-X, an online transaction platform for commercial real estate, also leveraging Colliers’ proprietary investor database. This hybrid approach resulted in 12 qualified, active bidders, more than 20 property tours, and the execution of more than 200 confidentiality agreements.

“The Shoppes at Foxmoor is a well-located, neighborhood retail asset,” said Chesler. “The property was 36% occupied at the time of sale with tenants that are e-commerce resistant, including medical, restaurants, lifestyle, financial, and health and beauty.” The property benefits from its close proximity to the new Town Center mixed-use development.

The Shoppes at Foxmoor is favorably sited within minutes of major travel routes including Route 130 and Interstates 195 and 295, as well as concentrated industrial and office campuses including the 480-acre Matrix Business Park, the 1.4 million-square-foot Horizon Center office park and the 300,000-square-foot Hamilton Business Center.

The property is also within walking distance to Town Center, a mixed-use development with over 900 residential units and 220,000 square feet of retail and office space. Robbinsville is strategically situated approximately one hour from both New York and Philadelphia, and boasts a strong local economy with a median household income of $106,000, which is 42% higher than the state average. Over the past decade, the municipality has attracted Fortune 500 companies including Amazon and its 1,800 local employees, Mercedes-Benz, Falken Tire, and La-Z-Boy. Additionally, nearly 12 million square feet of warehouse space provides easily accessible supply chains for retailers.

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.

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