The Goldstein Group announced on Monday that it successfully brokered the sale of 177 Route 17 South in Paramus. The announcement was made by Neil Goldstein, principal of the firm.
The transaction involved a high-profile investment property currently occupied by Starbucks, situated along one of the state’s most competitive retail corridors.
The deal was managed by a specialized team from The Goldstein Group, who facilitated the transition between the long-time owner and the new investor:
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The Brokers: Lew Finkelstein, CJ Huter and Marc Palestina.
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The Seller: R.G. Kenlin Co.
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The Buyer: O & J Properties.
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Key Asset: A free-standing retail location with a national credit tenant.
The sale highlights the enduring strength of the North Jersey real estate market, even as broader economic trends shift. Neil Goldstein noted that the property’s location was the primary driver for the deal.
“The sale of 177 Route 17 South underscores the continued investor demand for well-located retail assets in premier New Jersey markets,” Goldstein said. “Paramus remains a highly sought-after location for retailers and investors alike due to its unparalleled traffic counts, strong tenant performance, and long-term market fundamentals.”
Paramus continues to hold its reputation as a national retail powerhouse. The property at 177 Route 17 South benefits from:
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High Visibility: Direct access to a dominant regional artery.
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Massive Reach: A shopping destination that draws millions of visitors annually.
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Strong Fundamentals: Dense local population and immediate proximity to New York City.
