Rare Grocery-Anchored Deal: Park Ridge Shopping Center Sells For $17M
Ridgemont Shopping Center attracted significant interest, with more than 20 offers from investors, highlighting its prime location and tenant mix, the firm said.
The property, anchored by Lidl, is home to 12 national and regional tenants, including Staples, Chase Bank, and Starbucks, at 169-199 Kinderkamack Road.
Marcus & Millichap’s Alan Cafiero, David Cafiero, and John Moroz, along with Bill Farkas of Jeffery Realty, represented the seller and procured the buyer.
“It’s extremely rare to see grocery-anchored shopping centers come to market in New Jersey, especially the dominant center in one of Bergen County’s most attractive towns,” said Alan Cafiero, senior managing director of investments at Marcus & Millichap. “It’s no surprise there was tremendous interest in this asset.”
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