Cushman & Wakefield said Aug. 12 that it arranged the sale of Arlington Plaza, a 37,603-square-foot, grocery-anchored retail center located at 1-29 Schuyler Ave. in North Arlington. The final sale price was $13,500,000.
Cushman & Wakefield’s Seth Pollack, Brian Whitmer, Max Helfman, Andrew Merin, David Bernhaut and Gary Gabriel represented the seller, Arlington North Associates, and procured the buyer, a privately held investment firm.
Arlington Plaza is a fully-leased center anchored by Super Foodtown, which occupies nearly 55% of the gross square footage. The center has 377 feet of frontage along Schuyler Avenue and Bellevue Turnpike, which see an average of 20,238 and 19,542 vehicles per day, respectively.
Additional tenants include Dunkin’ Donuts, Santander Bank, Metro Liquors, Taco Bell, Arlington Pizza and others.
“Arlington Plaza presented a rare opportunity to purchase a dominant grocery-anchored center situated in the dense and affluent Bergen County,” said Pollack. “The asset is 100% occupied by a diverse, seasoned roster of 11 tenants at a ‘main and main’ signalized intersection.”
Situated at one of the most visible and highly trafficked intersections in the submarket, Arlington Plaza benefits from a dense trade area, with 694,775 people and 252,868 households within a 5-mile radius.