{"id":1004766346,"date":"2025-07-25T04:20:08","date_gmt":"2025-07-25T12:20:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004766346"},"modified":"2025-07-25T05:09:31","modified_gmt":"2025-07-25T13:09:31","slug":"agus-jv-snaps-up-metro-nyc-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/agus-jv-snaps-up-metro-nyc-retail-center\/","title":{"rendered":"Agus JV Snaps Up New Jersey Retail Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Golden-Acres-Shopping-Center-in-South-Plainfield-N.J.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004766348\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/agus-jv-snaps-up-metro-nyc-retail-center\/golden-acres-shopping-center-in-south-plainfield-n-j\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Golden-Acres-Shopping-Center-in-South-Plainfield-N.J-e1753430030464.jpg\" data-orig-size=\"1320,816\" 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;1&quot;}\" data-image-title=\"Golden Acres Shopping Center in South Plainfield, N.J.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Golden-Acres-Shopping-Center-in-South-Plainfield-N.J-e1753430030464.jpg?w=1024\" height=\"633\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Golden-Acres-Shopping-Center-in-South-Plainfield-N.J.jpg?w=1024\" alt=\"Aerial shot of Golden Acres Shopping Center, a 219,848-square-foot retail center in South Plainfield, N.J. \" class=\"wp-image-1004766348\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">Golden Acres Shopping Center is located at the intersection of Park Avenue and Oak Tree Avenue. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between Agus Holdings and Trecco has purchased Golden Acres Shopping Center, a 219,848-square-foot retail center in South Plainfield, N.J. The companies paid $40 million for the asset in a  deal brokered by JLL.<\/p>\n\n\n\n<p>Polimeni International previously owned the asset, according to Yardi Research Data. Golden Acres Shopping Center was part of the company\u2019s portfolio since 1998, when it paid $14.8 million for it.<\/p>\n\n\n\n<p>Completed in 1967, Golden Acres comprises three buildings across an 18-acre site. The property is anchored by an 80,000-square-foot ShopRite that underwent renovations in 2016. The tenant roster also includes Shoppers World, Unique Thrift Store and a Wendy&#8217;s outparcel.  At the time of sale, the shopping center was 83 percent leased.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-investment-sales-volume-rises\/\">Retail Investment Sales Volume Rises<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The property is located at 686 Oak Tree Ave. Golden Acres shares the intersection with Oak Park Commons, another shopping center that includes ALDI, LA Fitness and McDonald\u2019s among its tenants. Manhattan is some 30 miles northeast.<\/p>\n\n\n\n<p>JLL Capital Markets Executive Vice President Joseph Lopresti, Senior Managing Directors Jose Cruz and Kevin O\u2019Hearn, together with Senior Director J.B. Bruno and Michael Kavaler, led the Investment Sales and Advisory team that worked on behalf of the seller.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-jersey-s-retail-sales-activity-continues-to-grow\">New Jersey&#8217;s retail sales activity continues to grow<\/h2>\n\n\n\n<p>In the first six months of the year, New Jersey&#8217;s retail market recorded $293.4 million in sales, with 16 properties trading at an average price of $171 per square foot, according to Yardi Research Data. The total investment volume was higher than the one registered during the same period of last year, when 14 assets changed hands for $266.9 million. However, the average price per square foot at the time was $183.<\/p>\n\n\n\n<p>One of the <a href=\"https:\/\/www.commercialsearch.com\/news\/onyx-equities-sells-new-jersey-shopping-center\/\">assets that changed hands<\/a> earlier this year is Hazlet Town Center, a grocery-anchored, 190,000-square-foot retail center in Hazlet, N.J. Onyx Equities sold the asset in a 1031 exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL Capital Markets represented the seller.<\/p>\n","protected":false},"author":3619,"featured_media":1004766348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742,10,21749],"tags":[44006,33270,33271],"class_list":["post-1004766346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","category-northeast","category-retail","tag-jll-capital-markets","tag-jose-cruz","tag-kevin-ohearn"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Agus JV Snaps Up New Jersey Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Agus Holdings and Treeco bought Golden Acres Shopping Center, a 219,848-square-foot retail center in South Plainfield, N.J., for $40 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/agus-jv-snaps-up-metro-nyc-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agus JV Snaps Up New Jersey Retail Center\" \/>\n<meta property=\"og:description\" content=\"Agus Holdings and Treeco bought Golden Acres Shopping Center, a 219,848-square-foot retail center in South Plainfield, N.J., for $40 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/agus-jv-snaps-up-metro-nyc-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-25T12:20:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-25T13:09:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Golden-Acres-Shopping-Center-in-South-Plainfield-N.J-e1753430030464.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1320\" \/>\n\t<meta property=\"og:image:height\" content=\"816\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/agus-jv-snaps-up-metro-nyc-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/agus-jv-snaps-up-metro-nyc-retail-center\/\",\"name\":\"Agus JV Snaps Up New Jersey Retail Center - 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