PARAMUS, NJ — Cushman & Wakefield arranged the December sale of Paramus Junction, a fully leased, grocery-anchored shopping center in the heart of New Jersey’s iconic Bergen County retail corridor. Deka Immobilien GmBH, advised by Madison Marquette, purchased the 75,000 s/f asset from a joint venture of Invesco Real Estate, a global real estate investment manager, and Advance Realty.
Cushman & Wakefield’s New Jersey capital markets team represented the seller and procured the buyer, led by investment sales specialists Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kubby Tischler.
Paramus Junction is fully occupied by the Asian grocer H Mart, DSW and PetSmart. It is shadow anchored by a BJ’s Wholesale Club. Located at 60 North Route 17 in Paramus, the center sits near the heavily traveled crossroads of routes 4 and 17, directly across from the Garden State Plaza – one of the country’s top performing malls.