Mark Kalkus And Marcel Arsenault Acquire 93,785 Square Feet Retail Center In Linden New Jersey

The asset involved in this transaction is the Shops at Legacy Square, a retail center located at 820-860 West Edgar Road in Linden, NJ. The property spans a total of 93,785 square feet and was sold by a joint venture between Stockbridge Capital Group and Cypress Equities to Lamar Companies and Real Capital Solutions. The property is currently 80.6% leased, providing an opportunity for 18,235 square feet of additional lease-up.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Undisclosed
• Address: 820-860 West Edgar Road
• Market: Linden, NJ
• Square Footage: 93,785
• Buyers: Mark Kalkus - Lamar Companies; Marcel Arsenault - Real Capital Solutions (RCS)
• Sellers: Terry Fancher - Stockbridge Capital Group; Chris Maguire - Cypress Equities
• Brokers: J.B. Bruno, Jose Cruz & Cole Doyon - JLL
• Mortgage Brokers: Michael Klein & Max Custer - JLL

The transaction illustrates a strategic move by Lamar Companies and Real Capital Solutions, facilitated by JLL, who represented the sellers and provided acquisition financing advice to the buyers. The deal marks a significant acquisition five years post-development completion, reflecting the collaboration between established entities in the real estate sector.