Regions Hampton Roads

Wheeler REIT purchases New Jersey shopping center

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Virginia Beach-based Wheeler Real Estate Investment Trust Inc. has purchased a 40,695-square-foot shopping center in Sicklerville, N.J.

Wheeler bought the property for $6.6 million, or $162 per leasable square foot. The acquisition expands Wheeler’s geographic footprint into New Jersey.

Winslow Plaza was built in 1990 and was renovated in 2009. It is 91 percent leased and is occupied by 16 retail and restaurant tenants. It is anchored by King’s Liquor Outlet and shadow-anchored by Shoprite Supermarket.

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