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Well-Leased Retail Center Trades Along U.S. 22 in NJ
Cushman & Wakefield arranged the $20.1-million sale of Springfield Plaza, a 97% leased, approximately 72,120-square-foot retail center located at 271-275 U.S. Rte. 22 in Springfield, NJ. The transaction marks the property’s first sale in 40 years.
Cushman & Wakefield’s Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri represented both the seller and procured the buyer, Adoni Property Group.
“The previous owner held Springfield Plaza for 40 years and took good care of it, which is a big part of why it’s as well leased as it is today,” said Sonny Adoni, founder and CEO of Adoni Property Group. “It’s a solid center on Route 22 with good tenants, and our plan is to keep it that way.”
Situated along Route 22, Springfield Plaza features a diverse tenant mix including Olive Garden, the NJ MVC, Leslie’s Pool Supplies, Goldfish Swim School, Golf Cube Social and Once Upon a Child.
- ◦Sale/Acquisition
