JLL Negotiates $40 Million Sale of Golden Acres Shopping Center in Northern New Jersey

Morristown, N.J. — JLL Capital Markets has negotiated the $40 million sale of Golden Acres Shopping Center, a 219,848-square-foot retail center located in Morristown. The property is anchored by an 80,000-square-foot ShopRite that underwent renovations in 2016. Other tenants at the center include Shoppers World, Unique Thrift Store and a Wendy’s outparcel. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Kavaler and Joseph Lopresti of JLL’s Investment Sales and Advisory team represented the seller in the transaction. The buyer was a joint venture between Agus Holdings and TreeCo.