Unnamed Investor Acquires Retail Shopping Center In East Hanover For $13.75 Million

An unnamed investor acquired a retail property located at 145 Route 10 in East Hanover, NJ. The shopping center spans 70,000 square feet and was sold for a total of $13.75 million, resulting in a price per square foot of $196. The property includes an AMC theater and features tenants such as Chuck E. Cheese, GolfTec, along with a cell tower occupier. Additionally, there is a structured parking deck that supports the retail and entertainment components of the site.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,750,000
• Square Footage: 70,000
• Price per Square Foot: $196
• Address: 145 Route 10
• Market: East Hanover, NJ
• Brokers: Seth Pollack & Nina Becker - Ripco

Seth Pollack and Nina Becker from RIPCO Real Estate represented the seller in this transaction and were also responsible for sourcing the buyer. Their involvement highlights the critical role played by brokerage firms in facilitating property transactions.