Arlington Plaza at 1-29 Schuyler Ave. in North Arlington — Courtesy: Cushman & Wakefield
By Joshua Burd
An investment firm has acquired a fully leased, grocery-anchored shopping center in the southern tip of Bergen County, in a deal arranged by Cushman & Wakefield.
In a news release, the brokerage team said it represented Arlington North Associates in its sale of Arlington Plaza, a 37,603-square-foot property at 1-29 Schuyler Ave. in North Arlington. The buyer, a privately held firm, paid $13.5 million for the complex.
“Arlington Plaza presented a rare opportunity to purchase a dominant grocery-anchored center situated in the dense and affluent Bergen County,” C&W’s Seth Pollack said. “The asset is 100 percent occupied by a diverse, seasoned roster of 11 tenants at a ‘main and main’ signalized intersection.”
Pollack brokered the transaction alongside Brian Whitmer, Max Helfman, Andrew Merin, David Bernhaut and Gary Gabriel. They noted that Super Foodtown, which anchors Arlington Plaza, occupies nearly 55 percent of the property’s gross square footage, operating alongside tenants such as Dunkin’, Santander Bank, Metro Liquors, Taco Bell and Arlington Pizza.
The center has 377 feet of frontage along Schuyler Avenue and Bellevue Turnpike, sitting at a highly trafficked intersections in a dense trade area.