8/29/2007

Hackensack shopping center sells for $45 million

by

500 South River Street

The 129,250 square foot Riverfront Plaza in Hackensack, N.J., sold for $45 million to Mahwah-based Crossroads Cos.

Andrew Merin, Gary Gabriel and Jose Cruz of Cushman and Wakefield's Metropolitan Area Capital Markets Group brokered the deal.

The seller, Riverfront Plaza LLC, is an affiliate of the locally owned JD Construction Corporation.

Riverfront Plaza consists of five buildings on a 14-acre site on South River St.

The property is 100 percent leased and is anchored by ShopRite supermarket. Other tenants include GNC, H&R Block, Hollywood Video, KFC, Mandee, Radio Shack, Taco Bell and Washington Mutual.

Cushman & Wakefield's Metropolitan Area Capital Markets Group specializes exclusively in real estate sales, joint ventures and financing in northern New Jersey; Fairfield County, Conn.; and Long Island and Westchester County, N.Y.

Address: 500 South River Street, Hackensack, N.J.

Size: 129,250 square feet

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Filed Under: Retail

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