The Goldstein Group recently sold two prime retail properties, Fireside Plaza in Pompton Plains and the former site of Bazaar Rugs & Home in Paramus. Goldstein Executive Vice President Lew Finkelstein, Vice President CJ Huter, and Director Marc Palestina represented seller and buyer in both transactions.
Fireside Plaza, located at 679-717 southbound Route 23 in Pompton Plains, is a 30,000-square-foot strip center. Nearby retailers and restaurants include Walmart, Popeyes, Stop & Shop, Best Buy, Just Salad, Dunkin, 7- Eleven, Mo’s Southwest Grill and 7-Eleven. March Centers LLC sold the property and Prime Equity was the purchaser.
42 northbound Route 17 was the longtime home of Bazaar Rugs & Home in Paramus. Finkelstein, Huter and Palestina also handled this transaction for both the seller, Marks Realty, and purchaser, 42 Route 17, LLC. Goldstein additionally arranged the lease of the property to a new tenant for the new owner. The free-standing 12,400-square-foot building is close to the Garden State Plaza, Capital Grille, BJ’s, IKEA, H Mart, and Fortunoff.
“Both properties received interest from multiple parties,” noted Neil Goldstein, Principal of The Goldstein Group. “The Paramus property, located in the heart of the Paramus, New Jersey retail market, provided outstanding visibility and is located close to the intersection of Routes 17 and 4. We were able to find a buyer and we also found a tenant to take the entire building as we represented the new owner in the lease transaction. It was a win-win situation for the seller along with the purchaser and the new tenant. As for Pompton Plains, the site has a tremendous amount of visibility on the road and the owner plans on subdividing the large box space. We’re currently negotiating several deals for that space.”
