8A — April 26 - May 9, 2019 — Shopping Centers — M id A tlantic

Real Estate Journal


S hopping C enters Monmouth Junction and Paramus Shopping Center “wins” reflect targeted expansion Cushman & Wakefield appointed property manager for two New Jersey retail assets


ing Heritage Square, located at 4180 Route 1. Michael Nev- ins and BettyWalker secured the assignment for Heritage Square – home to PetSmart, Bob's Discount Furniture, Dunkin’ Donuts, Subway, Rita's Italian Ice and Chase Bank. Walker is heading the assignment, which marks the expansion of an existing cli- ent relationship; Cushman & Wakefield Asset Services also manages Wasa’s Sutton Plaza in Flanders. The Paramus Junction as- signment involves an 70,000 s/f, fully leased property (home to DSW, PetSmart and H- Mart) at 60 Route 17 North. Nevins, Walker, Asha Teelock and Noble Carpenter secured the Paramus Junction agency, with Walker heading the as- signment for owner Deka Immobilien GmbH. Cushman & Wakefield Asset Services manages more than 1.7 mil- lion s/f of additional space in Washington, D.C., Boston, San Francisco and Edwardsville, Ill., on behalf of the interna- tional real estate fund. “Heritage Square and Para- mus Junction enjoy class A lo- cations along established retail corridors,” Nevins said. “Both properties have attracted best- in-class national tenants that attract – and benefit from – healthy consumer traffic. We look forward to ensuring responsive operations and attractive environments for these retailers and shoppers alike. In today’s competitive environment, more institu- tional owners are turning to third-party providers like us to help uphold and enhance their properties’ positioning. We take pride in these two new agency wins.” Cushman&Wakefield’s East Rutherford-based New Jersey Asset Services team currently serves approximately 20.7 mil- lion s/f of space in the Garden State. The Asset Services plat- form provides comprehensive property management services throughout the asset life cycle. Focused on enhancing asset value, the firm’s professionals are empowered to minimize op- erating costs, improve efficien- cies, and enhance customer service in order to protect the value of each investment. Across the globe, Cushman & Wakefield manages all types of real estate on behalf of corpo- rate, institutional, and private clients. 


new property management assignments inMonmouth and Bergen counties reflect tar- geted retail-sector expansion for Cushman & Wakefield’s New Jersey Asset Services practice. The shopping cen- ters, Heritage Square in Mon- mouth Junction and Paramus Junction in Paramus, add ap- proximately 166,000 s/f to the team’s portfolio. Wasa Properties named Cushman &Wakefield to man- age the 80,504 s/f, three-build-

Paramus Junction in Paramus

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