First Real Estate Investment Trust sells Franklin Crossing shopping center for $27M to Regency Centers affiliate

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

Purchase price of $27M for 100% ownership interest in Franklin Crossing shopping center in Franklin Lakes, NJ.
Initial $1M deposit due within three business days; additional $1M due after 30-day inspection period ends May 8, 2026.
Deposits become non-refundable after inspection period except for certain termination rights; no financing contingency.
Closing expected in Q3 2026; Board approved unanimously.
Regency Centers Acquisition, LLC is the purchaser; Seller retains customary indemnities and conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. entered into Purchase and Sale Agreement with an affiliate of Regency Centers Corporation valued at $27,000,000 (effective 2026-04-08).

Action: entry
Agreement: asset purchase
Counterparty: an affiliate of Regency Centers Corporation
Value: $27,000,000
Effective: 2026-04-08

Exact text from the filing

On April 8, 2026, First Real Estate Investment Trust of New Jersey, Inc. (the “Trust” or the “Seller”) entered into a Purchase and Sale Agreement (the “Agreement”) with an affiliate of Regency Centers Corporation (the “Purchaser”), pursuant to which the Seller will sell to the Purchaser 100% of Seller’s ownership interests in the Franklin Crossing shopping center located at 814-860 Franklin Avenue, Franklin Lakes, New Jersey, (“Franklin Crossing”) in exchange for the purchase price of $27,000,000, subject to the terms and conditions of the Agreement.

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Source: SEC EDGAR

accession 0001174947-26-000467

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