Cole Schotz advises seller in $70M shopping center deal

NJBIZ STAFF//December 16, 2021

Cole Schotz said Dec. 15 that it advised an unidentified New Jersey-based commercial property owner and developer in the $70 million off-market sale of a shopping center in Middlesex County.

The retail development includes more 370,000 square feet of space, occupied by national and regional tenants.

According to the firm, its work on the deal included the creating and maintaining an online due diligence document database; establishing bidding procedures; evaluating bids; addressing due diligence issues; and closing the transaction before the seller’s deadline.

Handling the matter for Cole Schotz were members Gary M. Albrecht and Heather Demirjian; special counsel Tara Ryan; paralegal Sandra Csaposs; and legal practice assistant Bridget Corbett.

Other terms of the deal were not disclosed.

Cole Schotz also recently represented Alfred Sanzari Enterprises in a new lease deal with a Massachusetts-based pharmaceutical company at its Glenpointe corporate campus. Sunovion Pharmaceuticals Inc.’s deal covers 24,000 square feet of office space, according to that company. It expects to begin occupancy in early 2022.