Underscoring demand for grocery-anchored retail centers, a fully occupied Bergen County property sold for $17 million.

Marcus & Millichap announced the deal for Ridgemont Shopping Center in Park Ridge Jan. 9. At 71,650 square feet, Lidl leads the tenant roster at the retail center located at 169-199 Kinderkamack Road.

Alan Cafiero, David Cafiero and John Moroz, investment specialists in Marcus & Millichap’s New Jersey office, marketed the property on behalf of the undisclosed seller as well as procured the unnamed buyer along with Bill Farkas of Jeffery Realty.

Senior Managing Director Investments Alan Cafiero noted the rarity of a grocery-anchored asset hitting the market in New Jersey.

“[E]specially the dominant center in one of Bergen County’s most attractive towns,” he added. “It’s no surprise there was tremendous interest in this asset, as we received more than 20 written offers from investors.”

Beyond Lidl, Ridgemont Shopping Center features 12 national and regional tenants, such as Staples, Chase Bank and Starbucks.

Meanwhile, Marcus & Millichap highlighted Bergen County as one of the nation’s wealthiest regions. The team noted an average household income of $194,000 within a 3-mile radius of the property. Median home values come in over $672,000.

In December, Ridgemont Shopping Center recorded more than 110,000 visits, according to Placer.ai data.

Going for grocery

• Grocery-anchored Somerset County shopping center part of $62M acquisition
• Acme-anchored Eagle Plaza in South Jersey sells for $42M (updated)
• 3 ShopRite-anchored shopping centers sold in Ocean County