363-381 Route 17 South in Ridgewood — Courtesy: The Goldstein Group
By Joshua Burd
An investment firm has acquired two retail properties along Route 17 in Bergen County, in a set of newly announced transactions by The Goldstein Group.
In Mahwah, the brokerage team represented RMR Acquisitions LLC in its purchase of the Shops of Mahwah, a 7,700-square-foot strip center at 380 Route 17. The Goldstein Group Executive Vice President Lew Finkelstein and Vice President CJ Huter completed the assignment, noting that the property is home to a drive-thru Starbucks, along with tenants such as Freedom Bank, AT&T, Cookie Cutter Hair Center and SQ Pizza Company.
Jordan Liebowitz of Landmark Real Estate Co. LLC represented the seller, Coremark Mahwah LLC. Terms were not disclosed.
RMR also acquired a 15,390-square-foot shopping center at 363-381 Route 17 South in Ridgewood, with Finkelstein and Huter serving as its broker. Liebowitz also represented the seller, Burroughs Poole LLC.
Tenants at the center include Starbucks, AT&T, Spavia Day Spa, Freedom Bank, Calico and Liquivida.
“The market for property sales has been extremely active due to low interest rates and other market conditions,” said Chuck Lanyard, president of The Goldstein Group. “Our company has been active as we have sold a tremendous amount of sites during the COVID period.”
The Paramus-based brokerage firm last week also announced the sale of a freestanding former Rite Aid building at 2301 Park Ave. in South Plainfield. The Goldstein Group Director Chris Conway represented Rakhi Foods LLC in its purchase of the 11,345-square-foot asset, while CBRE’s Mike Horne and Steve Winters represented the seller, Melbourne Associates I LLC.
In Scotch Plains, Finkelstein, Huter and Marc Palestina, a director with the brokerage firm, represented Resurgence Investments in its sale of a 7,200-square-foot building at 2507 Route 22. They also represented the buyer, Cream Rep 2507 LLC.