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ISSUE HIGHLIGHTS Volume 38, Issue 4 April 2026
Avanzato, Todd & Ericksen represent buyer, Ridgecut Road in transaction NAI James E. Hanson arranges $37M sale of IOS property in South Plainfield, NJ
S
OUTH PLAINFIELD, NJ — NAI James E. Hanson , one of the
among buyers looking to scale their portfolios. We’re pleased to have helped our client secure a highly sought- after asset in one of the most competitive IOS markets nationwide.” Founded in 2021, Ridgecut Road is a real estate invest- ment firm focused on owning and operating low-coverage industrial assets and devel- oping Class-A warehouse, distribution, and logistics facilities in New York and New Jersey. JESCO Equipment is a leading construction and for- estry equipment dealer serv- ing the Northeast and Mid- Atlantic regions. The com- pany is the sole authorized John Deere Construction & Forestry Equipment dealer for New Jersey, New York, Delaware, and the Hudson Valley, and carries equip- ment from brands including Wirtgen, Hamm, Kleemann, and Vogele. MAREJ and the seller were instru- mental in bringing the trans- action to a successful close. Congratulations to all parties on an excellent outcome.” Interstate Shopping Center is strategically located at the Route 17 and Franklin Turn- pike interchange within the Northern New Jersey submar- ket, approximately 28 miles northwest of Manhattan. The property is anchored by re- gional grocer ShopRite and features a variety of national retailers and service provider tenants, including TJ Maxx, Michaels, Macy’s, Burlington and DSW. “Interstate Shopping Center represented a generational opportunity for both Cross- roads Companies and Wafra to acquire a top-performing, ShopRite-anchored retail cen- ter in a highly sought-after market with significant barri - ers to entry, such as Ramsey,” said Behr. MAREJ
SPOTLIGHTS
largest New Jersey-based full-service independent commercial real estate firms, negoti - ated the $37 million sale of a 7.81-acre industrial out- door storage (IOS) site with two build- ings totaling 30,069 s/f, lo- cated at 200 St. Nicholas Ave. in South Plainfield. S e n i o r managing di- rectors Jor- dan Avan- zato, SIOR , and Christo- pher Todd,
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Jordan Avanzato
200 St. Nicholas Ave. in South Plainfield, NJ
market, especially for logistics and distribution users that rely on well-located, func- tional sites to support their operations,” said Avanzato. “The combination of location, usability, and long-term op- tionality made this a highly compelling acquisition.” Todd added, “Infill IOS sup - ply in New Jersey is excep- tionally constrained, which continues to fuel competition
SIOR , and managing director William Ericksen, SIOR, CCIM of NAI James E. Han- son’s Institutional Services Group, represented the buyer, Ridgecut Road , in the trans- action with the seller, JESCO Equipment. At closing, JES- CO Equipment entered into a short-term license agreement for the property. “IOS continues to be a criti- cal component of the industrial
Christopher Todd
Mike Mignogna
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William Ericksen
CBRE secures joint venture equity partnership for purchase of Interstate Shopping Center in Ramsey, NJ
RAMSEY, NJ — CBRE has arranged a joint venture equity partnership for the pur- chase of Interstate Shopping Center, a 348,763 s/f grocery and pharmacy-anchored shop- ping center in Ramsey. New Jersey-based Crossroads Companies partnered with Wafra, a global investment manager based in New York,
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Interstate Shopping Center
on the transaction. Chris Munley, Colin Behr, David Gavin, Ryan Sciullo and Casey Benson Smith of CBRE’s National Retail Partners team arranged the partnership on behalf of Crossroads Companies. “We appreciate the oppor- tunity to support Crossroads
Companies in raising the equity for the acquisition of Interstate Shopping Center,” said Munley. “Given the qual- ity and profile of the asset, the process was highly com- petitive and Wafra ultimately emerged as the preferred part- ner. The collaborative efforts among Crossroads, Wafra,
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