New York & Tri-State + New York + Hospitality | September 8, 2023

38K-SF Watchung Cinemark Changes Hand

A Joint Venture between Agus Holdings and Treeco has bought Cinemark theater in Watchung, New Jersey. The price was not disclosed. The 37,630-square-foot, single-tenant building, constructed in 2019, is situated on a six-acre site along Route 22’s retail corridor. The property features a 10-screen theater with heated luxury recliners and an XD auditorium.

“This corner within an exceptional retail corridor stands out as the most coveted corner within the entire trading region,” said Josh Agus of Agus Holdings, “Our pursuit is dedicated to discovering remarkable retail spots that hold an irreplaceable presence within the New York and New Jersey trade zones, and this location embodies all the essential elements we seek.”

The JLL Retail Capital Markets team that represented the seller was led by J.B. Bruno, Kevin O’Hearn, Ryan Robertson and Jose Cruz.

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J.B. Bruno

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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