Two new property management assignments in Monmouth and Bergen counties reflect targeted retail-sector expansion for Cushman & Wakefield’s New Jersey Asset Services practice. The shopping centers, Heritage Square in Monmouth Junction and Paramus Junction in Paramus, add approximately 166,000 square feet to the team’s portfolio.
Wasa Properties named Cushman & Wakefield to manage the 80,504-square-foot, three-building Heritage Square, located at 4180 Route 1. Michael Nevins and Betty Walker secured the assignment for Heritage Square – home to PetSmart, Bob’s Discount Furniture, Dunkin’ Donuts, Subway, Rita’s Italian Ice and Chase Bank. Walker is heading the assignment, which marks the expansion of an existing client relationship; Cushman & Wakefield Asset Services also manages Wasa’s Sutton Plaza in Flanders.
The Paramus Junction assignment involves an approximately 70,000-square-foot, fully leased property – home to DSW, PetSmart and H-Mart – at 60 Route 17 N. Nevins, Walker, Asha Teelock and Noble Carpenter secured the Paramus Junction agency, with Walker heading the assignment for owner Deka Immobilien GmbH.