465-479 Route 46 in Wayne (left) and 2550 Route 22 in Union Township — Courtesy: The Goldstein Group
By Joshua Burd
An investment group has sold 68,000 square feet of highway retail space in Wayne, in one of two newly announced deals by The Goldstein Group.
According to a news release, GCL Investment LLC paid an undisclosed sum for the portfolio at 465-479 Route 46, which includes a 50,000-square-foot former Bloomingdale’s Furniture space near the Route 23 and Interstate 80 interchange. It also includes an adjacent 18,000-square-foot building occupied by The Suit Store, which is leasing the space under a recent deal by The Goldstein Group.
The brokerage team of Executive Vice President Lew Finkelstein, vice presidents CJ Huter and Marc Palestina and Sales Associate Roy Paret represented the seller, which was a combination of AJJK Management LLC, Askum Investors Wayne LLC, Trishul Wayne, LLC, Jasmera Wayne, LLC, Samaja Wayne LLC and BGVA Holdings LLC.
In the second deal, Finkelstein and Palestina represented The G/M Herrigel Family LLC in the sale of a freestanding, 5,300-square-foot building at 2550 Route 22. A buyer listed as 2550 Route 22 Investors LLC purchased the property, which spans 0.42 acres and is leased to a home furnishings tenant and a cannabis user.
“These properties represent the continued demand for well-located real estate in strategic suburban markets,” Huter said. “Both Wayne and Union are vibrant commercial hubs, and these sales demonstrate investor confidence in the long-term growth of these communities. The transactions are reflective of a broader base in New Jersey’s retail sector, with buyers showing increased interest in high traffic, accessible properties.”
