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Paramus, N.J. — A joint venture partnership between Heidenberg Properties Group, Red Starr Investments, Norse Realty Group and DAG Paramus has acquired Paramus Park South, a 181,150-square-foot shopping center located in Paramus, roughly 20 miles northwest of New York City. Anchored by a 100,223-square-foot Stew Leonard’s Supermarket, the center was 67 percent leased to a mix of tenants including Macy’s, Sephora, L.L. Bean, Ulta Beauty and Chick-fil-A at the time of sale.
CBRE brokered the sale of the property. Ackman-Ziff Real Estate Group structured the joint venture and arranged acquisition financing for the deal.