By Joshua Burd
The longtime owner of a 30,000-square-foot strip center in Pompton Plains has sold the property, in one of two newly announced deals by The Goldstein Group.
The buyer, Prime Equity, paid an undisclosed price for Fireside Plaza at 717 Route 23, according to a news release. The Goldstein Group Executive Vice President Lew Finkelstein, Vice President CJ Huter and Director Marc Palestina represented both the seller, March Centers LLC, and the buyer in the deal just north of Garden Place.
The brokers also represented both parties in Marks Realty LLC’s sale of the former Bazaar Rugs & Home building at 42 Route 17 in Paramus. They then represented the new owner, 42 Route 17 LLC, in a subsequent lease to a new tenant at the freestanding, 12,400-square-foot property.
“Both properties received interest from multiple parties,” Finkelstein said. “The Paramus property, located in the heart of the Paramus, New Jersey retail market, provided outstanding visibility and is located close to the intersection of routes 17 and 4. We were able to find a buyer and we also found a tenant to take the entire building as we represented the new owner in the lease transaction. It was a win-win situation for the seller along with the purchaser and the new tenant.
“As for Pompton Plains, the site has a tremendous amount of visibility on the road and the owner plans on subdividing the large box space. We’re currently negotiating several deals for that space.”
Retailers and restaurants located near the Pompton Plains location include Stop & Shop, TJ Maxx, HomeGoods, Goodwill and others, the news release said. Paramus, meantime, is home to major operators such as IKEA, Starbucks, Garden State Plaza and On the Border, among others.
