177 Route 17 South in Paramus — Courtesy: The Goldstein Group
By Joshua Burd
A local investor has sold the site of a drive-thru Starbucks location on Route 17 in Paramus, in a recently completed deal by The Goldstein Group.
The brokerage firm said the seller, R.G. Kenlin Co., drew strong interest thanks to the property’s strong visibility and access to the dominant retail artery that serves as a shopping destination for millions of visitors annually. That led to the deal with O & J Properties, which paid an undisclosed sum in the transaction at 177 Route 17 South.
Lew Finkelstein, CJ Huter and Marc Palestina, who are now with VanRockCRE, represented both parties.
“The sale of 177 Route 17 South underscores the continued investor demand for well-located retail assets in premier New Jersey markets,” said Neil Goldstein, a principal with The Goldstein Group. “Paramus remains a highly sought-after location for retailers and investors alike due to its unparalleled traffic counts, strong tenant performance and long-term market fundamentals.”
