Bayonne, N.J. -- Inland Real Estate Acquisitions announced it has acquired Bayonne Crossing, a 356,647-sq.-ft. shopping center in Bayonne, N.J., for approximately $75.2 million.
Located just off the Hudson River and across from Manhattan, the acquisition includes a 91,109-sq.-ft. Wal-Mart Urban Store and a 146,583-sq.-ft. Lowe’s Home Improvement, both anchor tenants on ground leases purchased by Inland Real Estate Acquisitions.
“I am very pleased to have closed on the purchase of what I believe to be one of the finest retail assets I have ever acquired,” Joe Cosenza, president, said.
The newly built center was completed in 2012 and is located on the land once owned by John D. Rockefeller. Other tenants include Michaels and Dollar Zone. Additionally, Longhorn Steakhouse and T.G.I. Friday’s are operating on ground leases, also purchased in this transaction.