The Goldstein Group said it recently sold two properties in Wayne and Union, demonstrating investor confidence in the long-term growth of the communities.
“These properties represent the continued demand for well-located real estate in strategic suburban markets,” CJ Huter, vice president said. “Both Wayne and Union are vibrant commercial hubs…the transactions are reflective of a broader base in New Jersey’s retail sector, with buyers showing increased interest in high traffic, accessible properties.”
Located at 465-479 Route 46, the Wayne sale consisted of a 50,000 square foot former Bloomingdale’s Furniture space and an 18,000 square foot space leased by The Suit Store, which The Goldstein Group brokered several months ago. Lew Finkelstein, executive vice president; CJ Huter, vice president; Marc Palestina, vice president; and Roy Paret, sales associate represented the seller which was a combination of AJJK Management LLC, Askum Investors Wayne LLC, Trishul Wayne, LLC, Jasmera Wayne, LLC, Samaja Wayne LLC, BGVA Holdings LLC. The buyer was GCL Investment LLC.
The site is located near the Route 46, Route 23 and Route 80 intersection and is positioned in the prime Route 46 retail corridor. Area retailers include The Tile Shop, PC Richards & Son, Lidl, Home Depot, Staples, Starbucks, Hobby Lobby, Marshalls, Aldi, Homesense, Costco, Nordstrom Rack, Dick’s and Home Goods.
The Union sale, which is located at 2550 Route 22, consisted of a 5,300 square foot building on 0.42 acres. Lew Finkelstein, CJ Huter, and Marc Palestina of The Goldstein Group represented the seller, The G/M Herrigel Family, LLC. The buyer was 2550 Route 22 Investors, LLC.
This free-standing building which is currently leased to a home furnishings tenant and a cannabis user is located in the busy Route 22 Union/ Springfield corridor. Area retailers include Home Depot, Walmart, Chase Bank, TJ Maxx, Petsmart, Total Wine & More, IHOP, Wendy’s, Starbucks, Wren Kitchen, Shop Rite, Barnes & Noble, and Dave’s Hot Chicken.
