Ramsey, N.J. — New York-based Wafra has acquired Interstate Shopping Center, a 348,742-square-foot shopping center located in the Northern New Jersey community of Ramsey. CBRE arranged the joint venture between Crossroads Cos. and Wafra to purchase the property, while Axiom Capital arranged the acquisition loan. This transaction marks the first time the property has been sold since an earlier and smaller version of the center was acquired in the early 1990s.
ShopRite, T.J. Maxx, Burlington, Ulta Beauty, Michaels and DSW anchor Interstate Shopping Center, which comprises seven buildings across 42 retail units. Additional tenants include Chipotle Mexican Grill, TD Bank, J. Crew, Petco, Old Navy, Five Below, Dunkin’, The Paper Store, Popeyes and Paris Baguette.