Namdar Realty Group, a New-York based commercial real estate investment firm, purchased Liberty Village Outlet Marketplace in Flemington from Simon Property Group for $2.7 million, according to a copy of the deed provided to NJ Advance Media by the Hunterdon County Clerk’s Office.
The deed was recorded on July 31.
Namdar Realty Group, a privately held firm, owns and manages over 42 million square feet of commercial real estate throughout the United States. It also owns Phillipsburg Mall, which recently demolished that mall’s former Sears anchor store.
Of the 242 properties owned by Namdar, Phillipsburg Mall, located in Warren County, is the closest in proximity to Liberty Village.
Simon Property Group declined to comment on the sale of what is the nation’s oldest outlet shopping center. A spokesperson for Namdar Realty Group also could not be reached for comment.
Flemington Mayor Betsy Driver said she does not know what Namdar Realty Group intends to do with the property.
“I know that some folks within the borough have tried to reach out," Driver said Friday. “I don’t know that anyone has heard from (Namdar), and I’m not aware of what their future plans might be.
“I’m cautiously optimistic that the new owners will do the right thing for Flemington. Maintain (the center) and make sure that it is fully utilized."
Driver also confirmed that the owner of the former Bemis factory property located near Liberty Village is looking at transforming that property into a mixed-used development.
She also confirmed the borough received a bid to purchase the Hineline gas station on Main Street, which is also in close proximity to the premium outlet center.
“There’s a lot going on that I’m hopeful will lead to better things in town," Driver said. “Mixed-use in more residential development leads to more feet on the streets, which leads to perhaps better services to offer residents through a more robust retail environment."
Caroline Fassett can be reached at cfassett@njadvancemedia.com.
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