North Bergen shopping center sells for $19 million

Commercial real estate firm Cushman & Wakefield recently announced it had orchestrated the $19 million sale of a shopping center in North Bergen.

The undisclosed buyer purchased the fully leased, 41,000 square-foot property at 2819 JFK Blvd. through a 1031 Exchange with a joint venture partnership.

“Limited grocery-anchored retail product has come online recently in New Jersey and throughout the Northeast market in general,” Brian Whitmer of East Rutherford-based Cushman & Wakefield’s Metropolitan Area Capital Markets Group, said. “It makes sense that properties with term and credit are being pursued aggressively by institutional and private investors. 2819 JFK Boulevard was no exception.”