Thursday, June 11, 2015

HFF closes sale of and arranges financing for A&P-anchored retail center in northern New Jersey


55-75 Mayhill Street, Saddle Brook, NJ

 
Jose Cruz
FLORHAM PARK, NJ, June 11, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged acquisition financing for a two-building neighborhood shopping center located at 55-75 Mayhill Street in Saddle Brook, New Jersey.

HFF marketed the property on behalf of the seller.  Vision Real Estate Partners purchased the asset. 

Additionally, HFF worked on behalf of the new owner to secure the acquisition financing through Oritani Bank.

The 119,000-square-foot center is anchored by a 62,000-square-foot A&P supermarket and is approved for an additional 12,000 square feet of retail space.  

The 12-acre site also has 45,000 square feet of near-term availability, which can be leased as a single unit or divided into multiple units. 

Constructed between 1998 and 2000, the site offers almost 800 parking spaces. It is situated between I-80 and the Garden State Parkway with visibility from Market Street in Saddle Brook and is less than 10 miles from the George Washington Bridge.  

Kevin O'Hearn
The population within a three-mile radius totals more than 252,000 with an average household income exceeding $75,000.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and real estate analyst Robert Borny.

The HFF debt placement team representing the new owner was led by senior managing directors Jon Mikula and Jim Cadranell.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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