Edgewater, N.J. — JLL has arranged the $53.5 million sale of Edgewater Towne Center, a mixed-use development located in Edgewater, roughly eight miles from New York City. The property comprises 76,414 square feet of retail space and 64 apartment units.
The retail portion of Edgewater Towne Center was 98 percent leased at the time of sale and features a mix of tenants including Club Pilates, Amazon One Medical, Bond Vet and Pure Barre. Whole Foods Market anchors the property. Meanwhile, the residential component of the building was 94 percent occupied. Completed in 2000, Edgewater Town Center is situated on approximately 14 acres.
Jose Cruz, Kevin O’Hearn and J.B. Bruno of JLL’s Investment Sales and Advisory team represented the seller, Site Centers Corp., and procured the local private buyer, in the transaction.