Time Equities Inc. (TEI), a full-service New York City-based real estate firm, has announced its largest acquisition of the year with the $60 million purchase of Hamilton Commons, a 403,050-square-foot power center located in Mays Landing, New Jersey. The firm, which remains bullish on retail, specifically open-air strip and power centers, has grown its portfolio to include 121 retail assets. The complex, located at 190 Hamilton Commons Drive, was purchased from national real estate investment trust Retail Value, Inc. (NYSE: RVI).

“We know retail, and over the course of the past five years, increased our portfolio by 35 retail assets. We continue to expand nationally as we build up our retail platform in various secondary and tertiary markets,” said Ami Ziff, Director, National Retail for TEI. “We continue to strategically add to our retail holdings across the United States and plan to sustain this robust level of growth for the next several years.”

While the exact terms of the transaction are undisclosed, Mr. Ziff, Jonathan Kim, Senior Portfolio Manager in the National Retail group and Grant Scott, Senior Associate in the National Retail group, represented TEI in-house; Chris Munley, Jim Galbally and James Graf at Jones Lang LaSalle (JLL) exclusively represented the seller.

The shopping center, built in 2001, is in a high-traffic area of Atlantic County near the Atlantic City Expressway, the main thoroughfare connecting Philadelphia and Atlantic City, and the Black Horse Pike, which carries more than 50,000 vehicles per day (VPD) on each artery. Hamilton Commons is currently 93% leased to 34 tenants including national brands, restaurants and retailers. The property is anchored by Regal Cinemas, Hobby Lobby, Marshalls, Ross Dress for Less and Big Lots.

For more information on Hamilton Commons please email Ami Ziff at aziff@timeequities.com or visit www.timeequities.com.

About Time Equities, Inc.

Founded in 1966, Time Equities, Inc. has been in the real estate investment, development, and asset and property management business for more than 50 years.?TEI currently holds in its own portfolio approximately 33.6 million square feet?of residential, industrial, office and retail property, including about 5,000 multi-family apartment units, approximately 800,000 square feet in pending acquisitions, and 1.1 million square feet of various property types in stages of pre-development and development. With properties in 33 states, 5 Canadian provinces, Anguilla, Germany, Italy and the Netherlands, the TEI portfolio benefits from a diversity of property types, sizes and markets. There are concentrations in the Northeast, Southeast, Midwest and West Coast of the U.S., and new markets around the world are always being evaluated.