Updated Oct 8, 2026
Adoni Property Group Sells Veronica Plaza Retail Center In Somerset, NJ For $14.5 Million
1165 Route 27
$14,500,000
$431/SF
Building Size
33,608 SF
Asset Type
Retail
Closing
Oct 8, 2026
About this deal
AI
The Veronica Plaza retail center, located at 1165 Route 27 in Somerset, NJ, spans 33,608 square feet and has been sold for $14.5 million. This fully leased retail property, occupying roughly five acres, includes a diverse range of 18 tenants involved in food, medical, financial, and service sectors.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $14,500,000
- Square Footage: 33,608
- Price Per Square Foot: $431
- Seller: Sonny Adoni - Adoni Property Group
- Broker Representatives: Andy Schwartz, Jordan Sobel, Andre Balthazard & Dan Bottiglieri - Cushman & Wakefield
- Market: Somerset, NJ
The transaction was arranged by Cushman & Wakefield, involving key broker representatives who successfully facilitated the sale between Adoni Property Group and an undisclosed buyer, highlighting the engaged roles of the brokers in this retail center deal.
On the Map
$14,500,000
$431/SF
Retail
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Players
Somerset 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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93