David Lukes Of SITE Centers Sells Mixed-Use Property In Edgewater For $53.2M

A mixed-use property located at 905 River Road in Edgewater, N.J., was sold for $53.2 million. The asset consists of 76,525 square feet and includes 64 residential units. The price per unit is $831,250, while the price per square foot is $695. The property also features a retail component that is currently 98% leased and apartments that are 94% occupied.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $53,200,000
• Units: 64
• Square Footage: 76,525
• Price Per Unit: $831,250
• Price Per Square Foot: $695
• Seller: David Lukes - SITE Centers
• Broker: JLL

David Lukes represented SITE Centers in this transaction. JLL Capital Markets facilitated the sale, bringing their expertise to the deal. The property's retail portion has maintained a high occupancy rate, indicative of its market presence.