The Goldstein Group brokers the sale of a multi-building retail site in Fair Lawn for $14M

Fair Lawn, NJ — The former Shop Rite and adjacent retail spaces in Fair Lawn, New Jersey have been sold. The Goldstein Group, a leading provider of retail real estate services in New Jersey successfully brokered the sale of the shopping center at 17-17 to 17-77 River Road, Fair Lawn, New Jersey, according to Neil Goldstein, principal of The Goldstein Group.

Marc Palestina, vice president, CJ Huter, vice president, Lew Finkelstein, executive vice president, and Neil Goldstein for The Goldstein Group represented the seller, 17-77 River LLC and SSM River LLC. The purchaser BSPSS Mid-Atlantic, LLC was represented by Frank Truesdell and John Picco from Cushman & Wakefield.

Originally constructed in the 1990’s and shuttered in June 2023 following Shop Rite’s relocation to a larger facility on Maple Ave., the River Rd. property now sits raised for transformation. The sale of the 6.45-acre site included a vacant 54,500 s/f former ShopRite, a freestanding Walgreens, and a 14,900 s/f strip center anchored by Sherwin Williams. The site sold for $14 million.

“The purchaser has plans to reposition the former ShopRite space for a new use,” said Palestina. “While the property was initially introduced to the market for lease, a strategic sale opportunity materialized, prompting ownership to shift strategy and move forward with the sale.”

The property benefits from quick access to major routes like Rtes. 208, 4 and 17 as well as I-80, offering unmatched regional connectivity. Additionally, it’s located in proximity to local professional offices, educational institutions, residential areas, and several multi-housing communities.