BAPS Swaminarayan Akshardham USA Acquires Retail Property In Fair Lawn For $14M

17-77 River Road, located in Fair Lawn, NJ, is a retail asset that has been sold for a transaction amount of $14,000,000. The property comprises 86,000 square feet, with a price per square foot amounting to $162. This shopping center includes tenants such as Walgreens and Sherwin-Williams, and features over 70,000 square feet of vacancy, including a 54,000 square foot former ShopRite box.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $14,000,000
• Address: 17-77 River Road
• Market: Fair Lawn
• Asset Size: 86,000 SF
• Price Per Square Foot: $162
• Buyer: BAPS Swaminarayan Akshardham USA
• Seller: Carey Tajfel
• Seller's Representatives: Marc Palestina, Lew Finkelstein, CJ Huter & Neil Goldstein - The Goldstein Group

The buyer in this transaction, BAPS Swaminarayan Akshardham USA, plans to reposition the significant vacancy in the shopping center for future operations. The collaborative effort of the seller's representatives, including Marc Palestina, Lew Finkelstein, CJ Huter, and Neil Goldstein from The Goldstein Group, has been acknowledged in bringing this transaction to a successful close.