Urban Edge Properties (NYSE:UE) acquired Shoppers World from SITE Centers Corp. (NYSE:SITC) for approximately $240 million on October 23, 2023. In a related transaction, Urban Edge also acquired Gateway Center for $68.6 million on October 23, 2023. The acquisitions were funded using proceeds from the disposition of the East Hanover Warehouse portfolio in a forward Section 1031 exchange agreement, with the balance being financed by drawing on Urban Edge's unsecured line of credit. On October 20, 2023, Urban Edge completed the sale of its East Hanover Warehouses portfolio for a price of $217.5 million, proceeds of which were used to pay off the $40.1 million loan secured by the property at closing and to partially fund the purchase of Shoppers World and Gateway Center.

Urban Edge Properties (NYSE:UE) completed the acquisition of Shoppers World from SITE Centers Corp. (NYSE:SITC) on October 23, 2023.