Grocery-Anchored Paramus Center Trades to Invesco JV
Cushman & Wakefield arranged the December sale of Paramus Junction, a fully-leased, grocery-anchored Paramus, NJ shopping center in the heart of New Jersey’s Bergen County retail corridor. Pricing was not disclosed. Deka Immobilien GmBH, advised by Madison Marquette, purchased the 75,000-square-foot asset from a joint venture of Invesco Real Estate and Advance Realty.
The Cushman & Wakefield New Jersey capital markets team of Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kubby Tischler represented the seller and procured the buyer.
Located at 60 N. Rte. 17 in Paramus, Paramus Junction is fully-occupied by the Asian grocer H Mart, DSW and PetSmart. It’s shadow-anchored by a BJ’s Wholesale Club.
“This property offers an ideal e-commerce resistant tenant mix in an irreplaceable location,” Whitmer said. “Paramus Junction has a history of consistently remaining fully-occupied since its completion in 1992, making it a prime investment target.”
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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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