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Cushman & Wakefield Sells Retail Center in Secaucus

| January 26, 2016 | 0 Comments

55 Hartz

Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza
East Rutherford, New Jersey 07073

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Media Contact: Evelyn Weiss Francisco: evelyn@caryl.com / (201) 796-7788 / www.twitter.com/carylcomm

SECAUCUS, N.J., Jan. 26, 2016 – A retail shopping center at 55 Hartz Way, located on the corner of Secaucus Road and Hartz Way, in Secaucus, New Jersey, was sold in a transaction valued at $11,500,000.

The two-story property contains approximately 74,000 square feet and sits on a 5.8-acre lot. The center consists of nine commercial units of office and retail space. Recent tenants include Escada, Nine West, Kasper, Fragantics and Design Within Reach Outlet. The building features solar panel roofing and has plans in progress to utilize geo-heating systems. The sale price equates to approximately $155 per square foot.

The property is situated within Secaucus Outlet Center, close to prominent retail outlets such as Gucci, Calvin Klein, Nautica, Kenneth Cole, The Children’s Place and Tommy Hilfiger, drawing substantial foot and vehicle traffic. The property is also conveniently accessible via the Meadowlands Parkway and New Jersey Transit.

Cushman & Wakefield’s Dmitry Shaplyka and Fahri Ozturk exclusively represented the seller in this transaction. David Cantor of Team Resources represented the buyer.

“This property is a unique asset – a large outlet center with easy access to New York City and nearby airports along with high-end retail tenants. To the satisfaction of our client, we were able to maximize the value of this property to its fullest potential by securing the best-suited buyer with owner-user requirements,” said Shaplyka. “This was a great transaction for our client, the buyer, and for New Jersey. We were able to secure a buyer who was awarded NJ Grow credits to relocate their headquarters from New York and bring permanent jobs to Secaucus,” added Ozturk.

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About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facility services (branded C&W Services), global occupier services, investment & asset management (branded DTZ Investors), project & development services, tenant representation and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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Category: Cushman & Wakefield of New Jersey, News Releases, Newswire: Latest News

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