CBRE Arranges $6.25M Sale Of 20.4K SF Retail Strip In Teaneck

A grocery-anchored retail strip located at 1374-1400 Queen Anne Road in Teaneck, New Jersey, has been sold for $6.25 million. The property, which was built in 1930 and recently renovated in 2023, spans 20,413 square feet and consists of eight retail units. Glatt's Express Supermarket serves as the anchor tenant, and the complex boasts a diverse tenant mix, with occupancy levels reaching 93%. The competitive bid process attracted offers that exceeded the initial list price, resulting in the sale of the property by Astoria Realty Corp to Queen Anne Owner LLC.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $6,250,000
• Location: 1374-1400 Queen Anne Road, Teaneck, New Jersey
• Market: Teaneck

This transaction was brokered by Karly Iacono from CBRE. The buyer, Queen Anne Owner LLC, and the seller, Astoria Realty Corp, were represented by Iacono throughout the deal. CBRE successfully facilitated the sale, which piqued the interest of multiple bidders, ultimately resulting in a price that exceeded the property's initial list price.