1374-1400 Queen Anne Road in Teaneck — Courtesy: CBRE
By Joshua Burd
A real estate firm has sold a grocery-anchored shopping center in Teaneck for $6.25 million, marking the first trade of the property in 65 years.
According to CBRE, which brokered the transaction, the 20,413-square-foot strip center at 1374-1400 Queen Anne Road consists of eight retail units. Glatt’s Express Supermarket, a neighborhood Kosher grocery store, anchors the 93 percent occupied property, which is also home to a dentist, a beauty salon and a convenience store, among others.
CBRE’s Karly Iacono represented the seller, Astoria Realty Corp., in the deal with Queen Anne Owner LLC.
“We were pleased to represent the seller on this legacy asset which has not traded since 1958,” said Iacono, a senior vice president in CBRE’s capital markets group. “The location, coupled with our well-defined marketing process, created an extremely competitive bid process where we sourced many buyers offering above list price. This grocery-anchored center is a cornerstone of the Teaneck community and will be an outstanding long-term hold for the new owners.”
The property was built in 1930 and renovated in 2023, CBRE said.
