469-491 Route 46 in Wayne — Courtesy: The Goldstein Group
By Joshua Burd
An investment firm has acquired two properties occupied by furniture retailers along Route 46 in Wayne, the Goldstein Group said Tuesday.
The Paramus-based brokerage announced that it brokered the sale of 469-491 Route 46, which house Bloomingdale’s Furniture Outlet and Ethan Allen Furniture in a total of 68,000 square feet. The purchaser was RKRE Investments, while the seller was J&J Realty.
Executive Vice President Lew Finkelstein and Vice President C.J. Huter represented both the seller and the buyer in the transaction. Terms were not disclosed.
“With such strong national tenants, we received a huge amount of interest on this listing,” Chuck Lanyard, president of The Goldstein Group, said in a prepared statement. “The property is a prime Route 46 retail site with excellent exposure and visibility that’s conveniently located at the intersection of Route 23 and Route 80. I commend the expertise of our fine sales team in bringing this sale to fruition.”
The location consists of two freestanding buildings on 3.24 acres, according to a news release. Bloomingdale’s Furniture Outlet occupies 50,000 square feet, while Ethan Allen Furniture has 18,000 square feet.