New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


New York & Tri-State  + Tri-State  + Retail  | 

Rare Walmart Ground Lease Trades in Teterboro

Hanley Investment Group Real Estate Advisors has completed the sale of a rare single-tenant Walmart ground lease at Teterboro Landing in Teterboro, NJ. The purchase price was approximately $37.5 million.

Hanley Investment Group President Ed Hanley represented the seller, Catellus Development Corporation of Oakland, CA. The buyer, a 1031 exchange private investor from Dallas, Texas, was self-represented.

“This sale represented a rare opportunity to purchase a new single-tenant, triple-net Walmart with stable income stream with increases,” said Hanley.

Built in 2015, the single-tenant 159,542-square-foot building is located on 14.39 acres at 1 Teterboro Landing Dr. The remainder of the Teterboro Landing shopping center is 100% occupied, with a tenant roster that includes Costco, Chipotle Mexican Grill, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chick-fil-A, CityMD Urgent Care, European Wax Center, GNC, Habit Burger Grill, KicksUSA, Panera, Petco, Texas Roadhouse, The Halal Guys and T-Mobile.

Subscribe to Connect Daily New York

For comments, questions or concerns, please contact Paul Bubny


Inside The Story

Connect With Hanley Investment's Hanley

About Paul Bubny

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 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).

  • ◦Sale/Acquisition