Montclair, N.J. — The Hampshire Cos., along with joint venture partner Pinnacle Cos., have announced plans to redevelop Lackawanna Plaza in Montclair. The planned 216,772-square-foot mixed-use redevelopment is expected to revitalize the complex through the development of a range of modern retail, office and residential spaces while preserving historical elements of the station. Originally built in 1913, Lackawanna Plaza was a stop on the Delaware, Lackawanna and Western Railroad until the station’s closure in 1981. The site will be anchored by a 28,509-square-foot Lidl grocery store. In addition to Lidl, …
New Jersey
Manalapan, N.J. — Marcus & Millichap has negotiated the $11.7 million sale of Tennent 9 Shopping Center in Manalapan, New Jersey. Located at 700 Tennent Road, the 60,000-square-foot center is anchored by NetCost Supermarkets, a European specialty supermarket. The remaining 10 units are leased to a mix of local and regional tenants, along with a Rite-Aid pharmacy. Alan Cafiero and Ben Sgambati of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
Denville, N.J. — Marcus & Millichap has arranged the $1.8 million sale of a 12,770-square-foot retail property in Denville, New Jersey. Located at 424 W. Main St., the fully occupied property is situated on 1.4 acres. Michael Lombardi and Scott Plasky of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was also a private investor.