During the three months ended March 31, 2025, no acquisitions were completed by the Company. During the three months ended March 31, 2024, the Company closed on the following acquisition:

Date Purchased

Property Name

City

State

Square Feet

Purchase Price(1)

(in thousands)

February 8, 2024

Heritage Square

Watchung

87,000

33,838

(1) The total purchase price for the property acquired during the three months ended March 31, 2024 includes $0.7 million of transaction costs.

On February 8, 2024, the Company acquired Heritage Square, an unencumbered 87,000 sf shopping center located in Watchung, NJ, for a purchase price of $33.8 million, including transaction costs. The property is anchored by Ulta and two TJX Companies concepts, HomeSense and Sierra Trading, and includes four outparcels occupied by Chick-Fil-A, CityMD, Miller’s Ale House and Starbucks. The acquisition was funded using cash on hand.


(amounts in thousands) Property Name	Land		Buildings and Improvements		Identified Intangible Assets(1)		Identified Intangible Liabilities(1)		Total Purchase Price





Heritage Square	$	7,343	$	24,643	$	4,763	$	(2,911)	$	33,838

(1) As of March 31, 2025, the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2024 were 6.7 years and 24.4 years, respectively.

During the three months ended March 31, 2025, no dispositions were completed by the Company.

On March 14, 2024, the Company completed the sale of its 95,000 sf property located in Hazlet, NJ for a gross price of $8.7 million and recognized a gain on sale of real estate of $1.5 million. The total gain on sale of real estate of $1.9 million includes amounts related to properties disposed of in prior periods.

Subsequent to the quarter, the Company executed contracts to sell two non-core assets for a total purchase price of $41.2 million.

On April 25, 2025, the Company completed the sale of a parcel of its Bergen Town Center East property, located in Paramus, NJ, for a gross sales price of $25 million. The sale was structured as part of a Section 1031 Exchange with the acquisition of The Village at Waugh Chapel which closed on October 29, 2024, allowing for the deferral of capital gains resulting from the sale for income tax purposes.