FREIT agrees to sell Westwood Plaza shopping center stake for $28.8 million

FIRST REAL ESTATE INV TST N JERSEY

FIRST REAL ESTATE INV TST N JERSEY

FREVS

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  • FREIT signed a deal to sell its 100% interest in Westwood Plaza, a shopping center at 700 Broadway in Westwood, New Jersey, for USD 28.8 million.
  • Buyer is an affiliate of Regency Centers; USD 1.2 million deposit is refundable during a 120-day due diligence period ending Sept. 23, 2026.
  • Deposit turns non-refundable after that date; buyer must add USD 1 million if it proceeds beyond the initial diligence period.
  • Buyer can extend diligence by up to nine months; monthly extension fee set at USD 50,000, not credited to the purchase price.
  • Either party can terminate if closing has not occurred by Aug. 15, 2027; the agreement has no financing contingency.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. FREIT - First Real Estate Investment Trust of New Jersey published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001174947-26-000621), on May 27, 2026, and is solely responsible for the information contained therein.

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