By Joshua Burd
A value-add investor has purchased a 3,300-square-foot retail building in Little Falls, in a newly announced transaction by VanRockCRE.
The local buyer, which was not identified, plans to update the existing structure at 555 Route 46 to help attract a new tenant to the 0.65-acre site. It also has picked VanRockCRE as its leasing team for the property, which the brokerage firm said offers strong frontage and accessibility.
Marc Palestina and CJ Huter, principals with VanRockCRE, and Executive Vice President Lew Finkelstein represented the seller. Terms were not disclosed.
“This was a great opportunity to match a well-located asset with a local investor who has a clear vision for repositioning the property,” Palestina said. “Route 46 continues to be a highly sought-after retail corridor, and we’re excited to help bring new life to this site.”
Huter added: “The flexibility of the property, combined with the potential for expansion, made this an especially compelling investment. We’re looking forward to executing on the leasing strategy and securing the right tenant for the next chapter of the property.”
The listing team also noted that 555 Route 46, a familiar sight to drivers on the busy highway, has expansion potential, adding to its long-term value.
“This transaction reflects the continued demand for value-add retail opportunities in strong northern New Jersey markets,” Finkelstein said. “We’re proud to have played a role in both the sale and the future leasing of this asset.”
