Urban Edge Properties Acquires Hudson Mall in Jersey City

On Feb 3, 2017

Urban Edge Properties has closed on the $43.7 million acquisition of Hudson Mall, a 383,000 square foot retail center in Jersey City, adjacent to the company’s existing Hudson Commons shopping center. The property, which has been privately owned since its original development in 1966, contains several below market leases and has expansion and densification potential. Marshalls, Toys “R” Us, Staples, Old Navy and other value and necessity-based retailers anchor the center. When combined with Hudson Commons, the company now owns more than 49 acres and 1,800 linear feet of frontage on Route 440, a major arterial carrying more than 57,000 vehicles per day. The purchase price includes the assumption of a $23.8 million, 5.07 percent mortgage maturing in 2023.

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