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.
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).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!