Hillsdale, N.J. — Axiom Capital Corp. has placed a $17.8 million loan for the refinancing of a 63,000-square-foot retail building in the Northern New Jersey community of Hillsdale. An undisclosed bank provided the loan to the borrower, a private investor and developer. The property has been leased to a single tenant on a triple-net basis since 1979 and was also renovated between 2016 and 2017.
North Arlington, N.J. — Cushman & Wakefield has brokered the $13.5 million sale of Arlington Plaza, a 37,603-square-foot retail center in North Arlington, about 15 miles west of New York City. Grocer Super Foodtown anchors the property, and other tenants include Dunkin’, Taco Bell and Santander Bank. Seth Pollack, Brian Whitmer, Max Helfman, Andrew Merin, David Bernhaut and Gary Gabriel of Cushman & Wakefield represented the seller, Arlington North Associates, and procured the buyer, a privately held investment firm.
Maple Shade, N.J. — NorthBridge Partners has purchased the 72,625-square-foot Macy’s Furniture Gallery store in Maple Shade, a suburb of Philadelphia, for $9.8 million. The retail building sits on 9.4 acres and was originally built in 1991. Macy’s has occupied the building since 2001 and recently signed a 10-year lease extension. Andy Merin, David Bernhaut, Andrew Schwartz, Karen Iman, Jordan Sobel, Keith Braccia and Andre Balthazard of Cushman & Wakefield represented the undisclosed seller and NorthBridge Partners in the transaction.
Roxbury, N.J. — A joint venture between Advance Realty Investors and Invesco Real Estate has opened The Shops at Ledgewood Commons, a 450,000-square-foot open-air lifestyle center in Roxbury, about 45 miles west New York City. The site was formerly occupied by Ledgewood Mall. Walmart Supercenter anchors the center, which is also home to tenants including Marshalls, Ashley HomeStore, Men’s Wearhouse, Ulta Beauty, Five Below, Burlington, Wendy’s, Chipotle Mexican Grill, Five Guys, Panda Express and Starbucks Coffee. Jeffery Realty is the leasing agent for the property.
Toms River, N.J. — R.J. Brunelli & Co. LLC has negotiated leases with Planet Fitness and Wingstop at Toms River Shopping Center, a 253,000-square-foot property located in Toms River. Both tenants are expected to open during the third quarter of 2021. Planet Fitness will co-anchor the shopping center with Kohl’s and will take over 17,867 square feet of space that was previously occupied by Modell’s. Wingstop will occupy a 1,500-square-foot inline space formerly occupied by Liberty Travel. Danielle Brunelli of R.J. Brunelli & Co. represented the property owner in both …
Hanover, N.J. — JLL Capital Markets has brokered the $46 million sale of a 133,276-square-foot shopping center and two nearby restaurants located approximately 25 miles west of New York City in Hanover. Jose Cruz, Kevin O’Hearn, Michael Oliver, Steve Simonelli, J.B. Bruno and Nicholas Stefans of JLL represented the seller, Mack-Cali Realty Corp., and the undisclosed buyer in the transaction. Wegmans Retail Center was completed in phases in 2017 and 2020. The fully occupied center is home to tenants including Wegmans Food Markets and Panera Bread. The two recently developed …
Paramus, N.J. and Los Angeles — Pinstripes Inc. will open two new locations at Westfield Garden State Plaza in Paramus and Westfield Topanga in the Los Angeles area. Both centers are owned by Unibail-Rodamco-Westfield. Pinstripes is a bocce and bowling entertainment facility that also features fine dining and a full bar. The concept will open at Westfield Garden State Plaza in late 2022, offering made-from-scratch dining and gaming. Pinstripes will join the center’s dining and entertainment line-up, which includes Arena Stem, a retail entertainment concept; AMC theater; and restaurants including …
Jersey City, N.J. — Mack-Cali Realty Corp. has unveiled the latest phase of the redevelopment of Harborside, a 4.3 million-square-foot mixed-use campus in Jersey City. The redevelopment of the 422,590-square-foot Harborside 1, which is one of five office buildings on the campus, is complete and includes a new façade and lobby, as well as infrastructure upgrades. The building also features a private terrace on the fourth floor with views of the Hudson River and Manhattan skyline. As part of this phase, Mack-Cali also introduced new art installations and public spaces …
North Plainfield, N.J. — Levin Management Corp. has negotiated four lease renewals for Virginia-based discount retailer Dollar Tree in New Jersey and Pennsylvania. The New Jersey locations include a 14,500-square-foot space at Brunswick Shopping Center, a 10,300-square-foot shop in Watchung and a 9,400-square-foot store in Franklin Township. The Pennsylvania location is situated in Middletown and spans 9,000 square feet.
North Plainfield, N.J. — Marcus & Millichap has brokered the $3 million sale of a 13,222-square-foot retail asset net leased to Advance Auto Parts in North Plainfield, about 30 miles southwest of New York City. Alan Cafiero, Brent Hyldahl and Ben Sgambati of Marcus & Millichap represented the seller, an individual/personal trust, in the transaction. The trio also secured a limited liability company as the buyer. Both parties requested anonymity.