OCEAN COUNTY – Holiday City is usually thought of as acres of senior housing, but the company that built them also built several strip malls for the residents to shop at. They were sold in a large transaction recently.
“Holiday City has changed hands,” Berkeley Councilwoman Sophia Gingrich notified the public at a recent Township Council meeting. A resident of a senior community herself, she mentioned that some of her residents have expressed concerns about the purchase. “We hope this change goes well.”
The locations are throughout Berkeley, Toms River, and Brick. They include Holiday City Plaza 1, 2, and 3; Rite Aid on Mule Road and Plaza Drive; Holiday City Medical Center at Plaza Drive; the Wells Fargo Bank on Jamaica Boulevard and Plaza Drive; the Social Security Administration building on St. Catherine’s Boulevard; the closed PNC Bank on Wranglebrook Road; and the Bellcrest Plaza on Fischer Boulevard. The lone Brick location is the Yorktowne Plaza on Hooper Avenue and Yorktowne Boulevard.
Most of the units in the shopping centers have tenants already. There are a number of banks and small, independent medical offices. There are also delis, diners and restaurants, as well as salons, attorneys, and convenience stores. The Toms River location on Fischer has more regional names like RWJBarnabas and national chains like Dollar Tree and Planet Fitness.
The Asbury Park Press reported that the $46 million sale was between Edele Hovnanian, president of the H. Hovnanian Family Foundation, and Ocean County Equities, LLC, owned by Joe Kotler.
This newspaper reached out to Hovnanian, Kotler and Alan Cafiero, senior managing director of investments at Marcus and Millichap, who was one of the people representing Hovnanian and who found the buyer. These requests for comment were not returned.
