{"id":1004170831,"date":"2017-03-30T10:41:29","date_gmt":"2017-03-30T18:41:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004170831"},"modified":"2022-12-08T10:36:03","modified_gmt":"2022-12-08T18:36:03","slug":"nj-retail-center-trades-for-51m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/","title":{"rendered":"NJ Retail Center Trades for $51M"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004170832\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004170832\" data-attachment-id=\"1004170832\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/500-route-23-n-pompton-plains-n-j\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png\" data-orig-size=\"800,726\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"500 Route 23 N., Pompton Plains, N.J.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png?w=800\" loading=\"lazy\" class=\"wp-image-1004170832 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png\" alt=\"500 Route 23 N., Pompton Plains, N.J.\" width=\"300\" height=\"272\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png?resize=300,272 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png?resize=768,697 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004170832\" class=\"wp-caption-text\">500 Route 23 N., Pompton Plains, N.J.<\/p><\/div>\n<p><strong>Pompton Plains, N.J.<\/strong>\u2014HFF closed the $51 million sale of Plaza 23, a 161,000-square-foot of shopping center located in Pompton Plains, N.J. Phillips Edison Grocery Center REIT II Inc. purchased the asset.<\/p>\n<p>Located at 500 Route 23 N., near the interchange of Interstate 287 and along a major retail corridor within northern Morris County, the site sits on 18.8 acres.\u00a0The center has exposure to more than 54,000 vehicles passing by daily. Residents living int he area have \u00a0an average annual household income of more than $119,000.<\/p>\n<p>Anchored by Stop &amp; Shop, Plaza 23 is also the only grocery-anchored shopping center in Pompton Plains. The center includes a mix of tenants, such as T.J. Maxx, HomeGoods, GNC, Moe\u2019s Southwest Grill and Sally Beauty Supply. Smashburger will also be opening a\u00a0store in the center soon.<\/p>\n<p>The HFF team that represented the seller was led by Senior Managing Directors Jose Cruz and Thomas Didio, Managing Director Kevin O\u2019Hearn, Directors Stephen Simonelli and Michael Oliver and Associate Director Robert Borny.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phillips Edison Grocery Center REIT II purchased the only grocery-anchored shopping center in Pompton Plains.<\/p>\n","protected":false},"author":436,"featured_media":1004170832,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,10,21749],"tags":[32792,34696],"class_list":["post-1004170831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-northeast","category-retail","tag-hff","tag-philips-edison-grocery-center-reit-ii"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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She joined the CPE-MHN team in 2016 and is writing real estate related news, blog articles, reports and Q&amp;As. \ud83d\udce7 You can reach out to her at adina.rogoz@cpe-mhn.com\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/adina-rogoz\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NJ Retail Center Trades for $51M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/","og_locale":"en_US","og_type":"article","og_title":"NJ Retail Center Trades for $51M","og_description":"Phillips Edison Grocery Center REIT II purchased the only grocery-anchored shopping center in Pompton Plains.","og_url":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-03-30T18:41:29+00:00","article_modified_time":"2022-12-08T18:36:03+00:00","og_image":[{"width":800,"height":726,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png","type":"image\/png"}],"author":"Adina Rogoz","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/","url":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/","name":"NJ Retail Center Trades for $51M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png","datePublished":"2017-03-30T18:41:29+00:00","dateModified":"2022-12-08T18:36:03+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e376ba4add70694b922380ddbe946d8"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/500-Route-23-N.-Pompton-Plains-N.J..png","width":800,"height":726},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/nj-retail-center-trades-for-51m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"NJ Retail Center Trades for $51M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e376ba4add70694b922380ddbe946d8","name":"Adina Rogoz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Adina-Rogoz.jpg?w=78","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Adina-Rogoz.jpg?w=78","caption":"Adina Rogoz"},"description":"Adina Rogoz is a Senior Associate Editor with Commercial Property Executive and Multi-Housing News. 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