JLL Capital Markets advised on the sale of a 93,000 SF shopping center in Bergen County

MORRISTOWN, NJ –  JLL Capital Markets announced today that it advised the seller, TFE Properties, on the sale of River Road Shopping Center, a value-add neighborhood center with redevelopment potential in Fair Lawn, New Jersey.

River Road Shopping Center, originally built in 1962, consists of 92,523 square feet of prime retail space spread across three buildings on a 6.45-acre site. Notable tenants include Sherwin Williams and Walgreens. The property also features a vacant grocery store with covered parking, which was previously leased to ShopRite.

River Road Shopping Center is located at 17-17 to 17-70 River Rd. within the densely populated and affluent town of Fair Lawn. The property benefits from quick access to major highways, including Routes 208, 4, and 17, as well as Interstate 80, offering unmatched regional connectivity.

JLL’s Capital Markets Investment team advising the seller included Senior Managing Directors Jose Cruz and Kevin O’Hearn and Senior Director J.B. Bruno. JLL Capital  Markets was also involved in the prior sale of this property, which occurred less than one year ago in August of 2024. 

According to O’Hearn, “We’re thrilled to have assisted TFE Properties with the successful completion of their value-add strategy in less than one year from acquiring the property.  With the lack of retail development in the region, combined with the exceptionally strong user demand, opportunistic investors are poised to do very well in this market.”