MEDIPOWER ACQUIRES SPRINGFIELD AVENUE MARKETPLACE

Medipower, a full-service commercial real estate investment and management firm specializing in retail properties along the East Coast, today announced the acquisition of Springfield Avenue Marketplace, — a 110,550-square-foot grocery-anchored shopping center located in Newark, New Jersey.

Strategically positioned in a densely populated Northern New Jersey trade area, the center serves a community of over 1.3 million residents within a five-mile radius and offers direct access to New York City. Springfield Avenue Marketplace is anchored by a high-performing ShopRite, complemented by nationally recognized pad tenants including McDonald’s, Taco Bell, and Popeyes. The center features a strong, e-commerce-resistant tenant mix, reinforcing its position as a critical retail hub in the region.

“We are thrilled to announce the addition of Springfield Avenue Marketplace to our portfolio of grocery-anchored shopping centers,” said Ron Stern, CEO of Medipower. “This acquisition aligns perfectly with our strategy of investing in infill locations with high barriers to entry. Our goal is to continue growing our portfolio across the East Coast with dominant grocery-anchored centers that generate resilient and increasing cash flow.

This acquisition underscores Medipower’s ongoing commitment to expanding its footprint in high-demand markets and delivering value to both tenants and investors through strategic asset growth."