Updated Oct 14, 2026
Sonny Adoni Of Adoni Property Group Acquires Retail Center In Springfield For $20.1M
275 Us Highway 22
$20,100,000
$278/SF
Building Size
72,120 SF
Asset Type
Retail
Closing
Oct 13, 2026
About this deal
AI
The retail asset located at 271-275 US Route 22 in Springfield, NJ has a total square footage of 72,120 and was sold for $20,100,000. The property, known as Springfield Plaza, is a retail center that has been 97% leased and features tenants such as Olive Garden, the NJ MVC, and Goldfish Swim School.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $20,100,000
- Address: 271-275 US Route 22
- Market: Springfield, NJ
- Square Footage: 72,120
- Price Per Square Foot: $279
- Buyer: Sonny Adoni - Adoni Property Group
- Brokerage: Andy Schwartz, Jordan Sobel, Andre Balthazard & Dan Bottiglieri - Cushman & Wakefield
This transaction marks the first sale of the Springfield Plaza in 40 years, with Cushman & Wakefield representing the seller and successfully procuring the buyer for this notable deal.
On the Map
$20,100,000
$278/SF
Retail
View full map
Players
Springfield Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Andre Balthazard to view all their deals.
Browse Springfield retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93