6A — July 31 - August 13, 2015 — Shopping Centers — M id A tlantic
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Totaling 7,700 s/f on a 34,023 s/f lot contiguous to Bergen Town Center NAI Hanson arranges the $2.75m sale of two retail buildings in Paramus, New Jersey
ARAMUS, NJ — NAI James E. Hanson , a leading New Jersey- based commercial real estate firm, announced it has ar- ranged the sale of 144 and 148 Rte. 4 East located in Paramus. Totaling 7,700 s/f and sitting on a 34,023 s/f lot contiguous to Bergen Town Center, the properties are both highly visible retail locations. Dominic Fittizzi , associate vice president of NAI Hanson represented the seller, Meyn Trust and the buyer, Urban Edge Properties in the sale. The buyer plans to use the building as a short-term in- P
vestment. Both buildings are currently fully leased- Cleopatra Tile & Bath occupies the 3,175 s/f building located at 144 Rte. 4 East, while Paramus Furni- ture and Dinettes occupies the 4,526 s/f building located at 148 Rte. 4 East. The property is also located near Rte. 17, Rte. 208 and the Garden State Parkway. Dominic Fittizzi said, “The properties offered a unique opportunity for investors. Both retail buildings are highly vis- ible and located in one of the busiest retail corridors in New Jersey with easy access to the
144-148 Rte. 4 East
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main highways in the area.” NAI Hanson provides com- prehensive value-added ser- vices such as office, industrial and retail brokerage, invest- ment sales, land sales, man- agement, government services and financing expertise. n Welco Realty signs lease for a 21,500 s/f Michael’s
We’re looking for sites in PA End Cap, In-line, Free Standing Flexible Space Requirements Retail Opportunities Needed Consistently Ranked #1 Franchise - 45+ Y ear T rack Record
SECAUCUS, NJ — Mi- chael’s is North America’s largest specialty retailer of arts, crafts, framing, home decor & seasonal products for hobbyists and DIY decora- tors. As of May 2, 2015, the Company owns and operates 1,177 Michael’s stores in 49 states and Canada and 118 Aaron Brothers stores. Welco leased 21,500 s/f to Michael’s at 400 Mill Creek Dr. in Se- caucus, New Secaucus, New Jersey which was the former A.C.Moore space. Jerry Welkis , a principal of Welco Realty represented the landlord, Hartz Mountain Industries . The tenant was represented by Jamie Sack- eim of The Dartmouth Com- pany. Other tenants in the center are PetSmart and Mar- shall’s/Home Goods. Adjacent tenants are Bob’s Furniture, Sports Authority, T.J.Maxx, Toys / Babies R Us, Kohl’s to name a few. The target opening date for Michael’s is Spring 2016. n
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