Livingston Shopping Center, featuring grocery anchor Food Universe Marketplace in New Brunswick, recently sold for $9.3 million.

The Kislak Co. Inc. said Aug. 14 it arranged the retail property transaction for the 38,813-square-foot neighborhood center located at 20 Elizabeth St. in the Middlesex County seat.

Beyond the supermarket, Livingston Shopping Center features a mix of necessity-based tenants, such as Dunkin’ and a laundromat. The property also offers a strategic location in an established Central Jersey commercial market — situated near downtown and its eds and meds anchors Rutgers University and RWJBarnabas Health’s Robert Wood Johnson University Hospital along with Saint Peter’s University Hospital.

Kislak marketed the property on an exclusive basis. Executive Vice President Barry Waisbrod handled the assignment on behalf of the seller, JLS Professional LLC, and procured the buyer, Livingston Shopping Center LLC.

Waisbrod noted the seller owned the property for many years. He described the availability as “a rare opportunity to acquire a stabilized grocery-anchored shopping center.”

According to Waisbrod, the purchaser made the deal as a long-term investment. New ownership plans to operate the center “while capitalizing on future rental growth by enhancing the supermarket and making other improvements, he said.

Kislak noted long-term leases at Livingston Shopping Center extend through 2043. A triple-net lease structure, strong expense recoveries and below-market rents provide future upside through rental growth, the Woodbridge-based firm said.

The New Brunswick retail site benefits from strong daytime populations, good traffic counts, and access to major highways and public transit options.