Updated Oct 13, 2026
Agus Holdings And Treeco Acquire Golden Acres Shopping Center In South Plainfield For $40M
3600 Park Avenue
$40,000,000
$181/SF
Building Size
219,848 SF
Asset Type
Retail
Closing
Jul 24, 2025
About this deal
AI
The Golden Acres Shopping Center, located at 3600 Park Avenue in South Plainfield, has been acquired for $40 million. The retail asset encompasses a total of 219,848 square feet and is currently 83% leased. The center features key tenants including a renovated ShopRite, Shoppers World, and Wendy’s.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $40,000,000
- Square Footage: 219,848
- Price Per Square Foot: $182
- Buyer: Jonathan Agus - Agus Holdings; Andrew Fish - Treeco
- Brokers: Jose Cruz, Kevin O’Hearn, J.B. Bruno, Michael Kavaler & Joseph Lopresti - JLL
The deal was facilitated through JLL, which played a pivotal role in bringing Agus Holdings and Treeco together for the acquisition. The shopping center recorded 262,000 visits in June 2025, underscoring its activity and drawing power in the South Plainfield market.
On the Map
$40,000,000
$181/SF
Retail
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South Plainfield 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93