A retail property in Lacey Township, Ocean County, New Jersey was recently sold for $5.96 million in an off-market transaction. The two-acre site is located at 106 North Main Street, on the corner of Lacey Road and Route 9 in Forked River.
The property was purchased by JDA Group LLC and is fully leased to TD Bank. TD Bank maintains a 6,000-square-foot retail bank facility with four drive-through lanes. The property has in-place approvals for up to 5,000 square feet of additional retail gross leasable area (GLA).
The undisclosed seller was represented by Anthony D’Ambrosia of Marcus & Millichap’s Manhattan office, while JDA handled the deal directly and has appointed Jason Pierson of Pierson Commercial Real Estate as the property’s leasing agent.
The acquisition is reportedly part of JDA’s plan to expand its portfolio with income-producing assets – especially those that carry future development opportunities – in the greater New York/New Jersey region.
“We are growing from our traditional Northern New Jersey base with this acquisition, yet it represents a natural next step in our long-term growth plan,” said JDA CEO Gregory Dell’Aquila. “Single-tenant, triple-net-lease properties are known for their stability and resilience regardless of market conditions. Aside from giving us the opportunity to acquire our first stand-alone retail property in Ocean County, this income-producing asset aligns perfectly with our company’s strategic plan for expanding regionally, seeking redevelopment opportunities, and building deeper relationships with retailers.”
