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JLL Facilitates $18M Sale Of Retail Center In Woodland Park, NJ

Property Image
SOLD
$18,000,000
Kevin O’Hearn
Jose Cruz
JB Bruno
+ 1

New Jersey

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Retail90,945 SF
Sold 05/17/2023
the dealplayerscompscontact
Property Image
SOLD

JLL Facilitates $18M Sale Of Retail Center In Woodland Park, NJ

1730 Us 46 Woodland Park, Nj 07424, Usa

See Similar Deals
Retail90,945 SF
Sold 05/17/2023
Kevin O’Hearn
Jose Cruz
JB Bruno
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$197
Total Square Footage:90,945 SF
Transaction Type:Sale

A 90,945 square-foot retail center located at 1730 Route 46 in Woodland Park, New Jersey has been sold for $18 million. The property is fully leased and anchored by a supermarket, pharmacy, and bank. The sale was facilitated by JLL, with brokers Jose Cruz, J.B. Bruno, Kevin O'Hearn, and Michael Zlotnick representing the deal. The buyer, an undisclosed private investor, acquired the property.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $18,000,000
  • Square Footage: 90,945
  • Address: 1730 Route 46
  • Market: Woodland Park

JLL played a key role in the sale of this retail center, showcasing their expertise in the Woodland Park market. With a fully leased property and strategic anchor tenants, this investment presents opportunities for the undisclosed private investor to generate a stable income. This transaction highlights the continued growth and demand for retail properties in the Woodland Park area.

Players

JB Bruno
JLL
JB Bruno
21 deals$1.6B volume(908) 447-0021
BROKER
Jose Cruz
JLL
Jose Cruz
102 deals$7.9B volume(201) 240-7546
BROKER
Kevin O’Hearn
JLL
Kevin O’Hearn
52 deals$2.3B volume(973) 549-2018
BROKER
Michael Zlotnick
JLL
Michael Zlotnick
2 deals$28M volume
BROKER

Details

SOLD
IMAGE: Jose Cruz, J.B. Bruno, Kevin O’Hearn & Michael Zlotnick DATE: 05/17/2023 ADDRESS: 1730 Route 46 MARKET: Woodland Park ASSET TYPE: Retail BROKERS: Jose Cruz, J.B. Bruno, Kevin O’Hearn & Michael Zlotnick - JLL SALE PRICE: $18,000,000 SF: 90,945 ~ PPSF: $198 NOTE: JLL has facilitated the sale of a 90,945 square-foot retail center in Woodland Park, New Jersey for $18 million. Located at 1710 Route 46 West, the property is fully leased and anchored by a supermarket, pharmacy, and bank. The buyer was an undisclosed private investor.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
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