Updated Dec 10, 2025
Robert Rivani Of Black Lion Sells Retail Asset In Flanders For $27.9 Million
10 International Drive
$27,900,000
$166/SF
Building Size
167,532 SF
Asset Type
Retail
Closing
Dec 8, 2025
About this deal
AI
The retail asset sold is located at 10-50 International Drive South in the Flanders market, comprising a total square footage of 167,532. The property was sold for $27,900,000, reflecting a price per square foot of $167.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $27,900,000
- Square Footage: 167,532
- Address: 10-50 International Drive South
- Market: Flanders
- Seller: Robert Rivani - Black Lion
- Brokers: Kevin O’Hearn, Jose Cruz & JB Bruno - JLL
The transaction featured JLL representing the seller, Robert Rivani, who emphasized the retail center's advantageous traffic ranking within the top 6% statewide and the long-term leases with an average duration of 11.8 years. A notable aspect of this deal includes the acquisition of The Gardens Portfolio, which consists of a 32,493 SF retail center along with an additional 135,039 SF Lowe’s in Mount Olive, NJ, hosting national tenants such as Applebee’s, Panera, and Chipotle.
On the Map
$27,900,000
$166/SF
Retail
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Players
Flanders Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93