RIPCO Real Estate has been selected to handle the sale of Seacourt Pavilion in Toms River, according to a Tuesday announcement.
Located at 635 Bay Ave. and Hooper Avenue, the 252,677-square-foot shopping center is home to several major retailers, including Marshalls, HomeGoods and Ashley Furniture.
RIPCO’s Steven Winters and Mike Horne currently serve as the center’s exclusive leasing brokers and as a team with RIPCO’s investment sales team of Stephen Preuss Sr. and Kevin Louie, which has been selected to sell the asset.
“Seacourt Pavilion in Toms River, New Jersey, is a rare opportunity for an investor to acquire a true value-add shopping center at below replacement cost with several longstanding national credit tenants with high-performing sales figures,” Preuss said.
“The 250,000-square-foot center and large lot of 26 acres provide optionality for a buyer to reposition the retail tenancy along with adding medical use, self-storage, amongst many others, allowing a buyer to build to a very attractive end return rate,” Louie added.