Florham Park-based HFF announced Tuesday it has closed a sale/leaseback transaction involving four free-standing grocery store sites totaling 120,335 square feet in greater New York and northern New Jersey.
According to an announcement, HFF marketed the properties as part of a nine-property portfolio owned by Montvale-based A&P and its affiliates. A private investor purchased the four properties for $25.8 million, and simultaneously leased the properties back to an A&P entity. A&P continues to operate grocery stores at each of the sites.
The New Jersey properties in the portfolio are 895 Paulison Ave. and 49 Old Highway 22, both in Clinton.