Commercial real estate firm Cushman & Wakefield recently announced it had orchestrated the $19 million sale of a shopping center in North Bergen.
The undisclosed buyer purchased the fully leased, 41,000 square-foot property at 2819 JFK Blvd. through a 1031 Exchange with a joint venture partnership.
“Limited grocery-anchored retail product has come online recently in New Jersey and throughout the Northeast market in general,” Brian Whitmer of East Rutherford-based Cushman & Wakefield’s Metropolitan Area Capital Markets Group, said. “It makes sense that properties with term and credit are being pursued aggressively by institutional and private investors. 2819 JFK Boulevard was no exception.”
Whitmer represented the seller alongside Andrew Merin, David Bernhaut, Gary Gabriel, Seth Pollack and Nick Karali.