Hoboken’s JDA Group LLC is expanding its Garden State footprint, with the $5.96 million off-market acquisition of a retail property in Ocean County.
The firm announced the deal for 106 N. Main St. in Lacey Township on Jan. 25. The 2-acre site is fully leased to TD Bank, which maintains a 6,000-square-foot branch with four drive-through lanes at the property.
According to JDA, the property has in-place approvals for up to 5,000 square feet of additional retail gross leasable area.
Anthony D’Ambrosia of Marcus & Millichap’s Manhattan office represented the undisclosed seller in the transaction. JDA handled the purchase directly.
The firm said it named Jason Pierson of Pierson Commercial Real Estate as leasing agent for 106 N. Main St.
“We are growing from our traditional Northern New Jersey base with this acquisition, yet it represents a natural next step in our long-term growth plan,” said JDA Chief Executive Officer Gregory Dell’Aquila in a statement. “Single tenant, triple-net-lease properties are known for their stability and resilience regardless of market conditions.
“Aside from giving us the opportunity to acquire our first stand-alone retail property in Ocean County, this income-producing asset aligns perfectly with our company’s strategic plan for expanding regionally, seeking redevelopment opportunities, and building deeper relationships with retailers,” he continued.