Plainsboro Plaza, a shopping center at 10 Schalks Crossing Road, has been sold. Onyx Equities LLC and Artemis Real Estate Partners announced on April 4 that they purchased Plainsboro Plaza from TIAA-CREFF, the institutional financial services and pension fund.
The new owners say they plan to renovate the 26-year-old shopping center, and are actively trying to find a replacement for long-time anchor SuperFresh supermarket, which closed last year. The other anchor position, which originally housed Caldor and then later an ACE hardware store, has been vacant for a number of years.
Built in 1987, Plainsboro Plaza, located at the intersection of Scudders Mill and Schalks Crossing roads, is home to several retailers, including CVS, Dunkin’ Donuts, Powerhouse Gym, and Romeo’s Pizza.
“Taking into account the positive economic development that Plainsboro has experienced in recent years, including the opening of a new hospital and a new town center, we view this acquisition as a strategic entrance into an increasingly affluent community,” said Stephen Sullivan of Onyx Equities.