Urban Edge Properties Sells Kohl’s-Anchored Shopping Center In Morris Plains For $60.1M

The retail property located at 1711 State Route 10 in Morris Plains, NJ, spans 27.3 acres and features a total square footage of 180,000. It is currently under contract for a transaction amount of $60,100,000, with a price per square foot calculated at $334.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $60,100,000
• Address: 1711 State Route 10
• Market: Morris Plains, NJ
• Seller: Jeffrey S. Olson - Urban Edge Properties
• Property Size: 27.3 Acres
• Total Square Footage: 180,000
• Price per Square Foot: $334
• Notable Features: 42,000 SF of Uncle Giuseppe’s Marketplace, 944 parking spaces
• Status: Under contract, expected to close at the end of August

The seller in this transaction is Jeffrey S. Olson, representing Urban Edge Properties. The buyer remains undisclosed. The asset is part of Briarcliff Commons, which is anchored by a Kohl’s shopping center.