Jersey City, N.J. — Urban Edge Properties is set to acquire Hudson Mall, a 383,000-square-foot shopping center located in Jersey City, for $43.7 million.
The property has been privately owned since its development in 1966. Toys ‘R’ Us, Marshalls, Old Navy, Hudson Mall Cinemas, Staples, Big Lots and Retro Fitness anchor the center, which is also home to tenants including Bath & Body Works, GameStop, AT&T and Foot Locker. The mall is located adjacent to another shopping center owned by Urban Edge, Hudson Commons. The acquisition is expected to close in the first quarter of 2017, and will include the assumption of a $23.8 million mortgage maturing in 2023.