Cushman & Wakefield orchestrates sale of Denville Commons shopping center

Denville, NJ — Cushman & Wakefield has arranged for the sale of Denville Commons, a 73,000 s/f grocery-anchored shopping center in Denville. Situated on nine acres at 3130 Rte. 10, Denville Commons was acquired by Longpoint Realty Partners from Denville Commons Associates LP. The commercial real estate services firm represented the seller and procured the buyer in the $22.6 million trade orchestrated by East Rutherford-based investment sales specialists Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt, Max Helfman and Seth Pollack, along with Andrew Schwartz of the firm’s Morristown office. “In today’s evolving retail landscape, co-tenancies that include food, experiential entertainment, fitness, personal services and other non-traditional uses are key to maintaining a shopping center’s competitive positioning,” said Bernhaut.Anchored by Corrado’s Market, the center was 90% leased at the time of the sale to 16 tenants, including Goldfish Swim School, Orangetheory Fitness, Kidville, Bach to Rock, Alexis Diner, Bensi and Verizon, among others. Recent capital improvements, including a complete façade renovation, greatly enhance Denville Commons’ curb appeal. READ MORE

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