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JV Acquires Shopping Center in Wayne, NJ’s Retail Corridor
Cushman & Wakefield has arranged the sale of Ramapo Plaza, a 57,963-square-foot retail asset located at 755-797 Hamburg Tpk. in Wayne, NJ. The final sale price was $8,650,000.
The team of David Bernhaut, Andy Schwartz, Jordan Sobel, Andre Balthazard, Brian Whitmer and Max Helfman represented the seller, Ramapo Plaza Associates LLC, and procured the buyer, a joint venture between Mountain Development Corp. and Cohen Commercial Properties.
“Ramapo Plaza is ideally located within Wayne’s primary retail corridor resulting in high visibility,” said Schwartz. “With two strong anchor tenants, this 88% leased asset is well-positioned to provide a durable return on invested capital.”
Ramapo Plaza is a 57,963-square-foot shopping center situated on 9.29 acres. The property is currently 88% leased to 15 tenants. It is located at the intersection of Hamburg Turnpike and Valley Road, offering direct access to the surrounding neighborhoods.
