JLL Brokers $46 Million Sale of Wegmans-Anchored Retail Center in Northern New Jersey

by Julia Sanders

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 restaurants included in the sale are leased to Capital Grille and Seasons 52.

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