JLL Capital Markets recently closed the $16.4-million sale of a 128,715-square-foot, single-tenant retail building triple net leased to The Home Depot on a long-term basis in Bloomfield, NJ a Northern New Jersey suburb. JLL marketed the property on behalf of the seller, Acadia Realty Trust. Benderson Development purchased it.
The JLL Capital Markets team representing Acadia was led by senior managing director Jose Cruz, director J.B. Bruno, senior managing director Kevin O’Hearn, senior directors Michael Oliver and Steve Simonelli and analyst Jordan Altman.
The property, which has limited competition in its selling radius, is situated on more than 11 acres at 60 Orange St. in Bloomfield at a highly visible location adjacent to the Garden State Parkway and within five miles of Interstates 280, 78 and 95. Approximately 357,000 residents live within a five-mile radius of the property.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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