Benderson Development Acquires Retail Property In Bloomfield For $16.4M From Seller Acadia Realty Trust

On February 12, 2021, a retail property located at 60 Orange St in Bloomfield was sold in a closed transaction. The property, spanning 128,715 square feet, was purchased by Benderson Development from Acadia Realty Trust. The deal was facilitated by brokers Jose Cruz, J.B. Bruno, Kevin O'Hearn, Michael Oliver, Steve Simonelli, and Jordan Altman from JLL Capital Markets. The property was sold for a total of $16,400,000, resulting in a price per square foot of $127. The transaction also included approximately 11 acres of land, with a price per acre of $1,490,909.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $16,400,000
• Square Footage: 128,715
• Address: 60 Orange St, Bloomfield
• Market: Bloomfield
• Buyer: Benderson Development
• Seller: Acadia Realty Trust
• Brokers: Jose Cruz, J.B. Bruno, Kevin O'Hearn, Michael Oliver, Steve Simonelli, and Jordan Altman - JLL Capital Markets
• Acres: 11
• Price per Acre: $1,490,909

The successful transaction showcases the strong market presence and expertise of the involved parties, including Benderson Development as the buyer and Acadia Realty Trust as the seller. The deal was facilitated by a team of experienced brokers from JLL Capital Markets, led by Jose Cruz, J.B. Bruno, Kevin O'Hearn, Michael Oliver, Steve Simonelli, and Jordan Altman. Their combined efforts ensured a smooth and efficient transaction process. This sale further highlights the attractive investment opportunities in the retail sector in Bloomfield.