Baton Rouge, Louisiana-based restaurant franchise Raising Cane’s is moving closer to opening its first location in Bergen County following the recent sale of two lots along U.S. Route 4 in Paramus.
A limited liability firm affiliated with the franchise – known for its chicken fingers, its secret Cane’s Sauce and Texas toast – recently purchased two properties at 55 East Route 4, next to Fairview Avenue, for $7.1 million. The property is near the Garden State Parkway, Bergen Town Center, and the Route 17 exchange, and is less than a quarter mile from the ramp to the Garden State Parkway.
The building was last home to furniture store Stickley, which has since relocated to Route 17.
An archived listing on LoopNet.com from the brokers shows the two lots span 1.72 acres. The main building spans 22,364 square feet, was built in 2000, and has 12-foot ceilings. Both lots include 63 surface parking spaces.
Matthew Ledvina of Moonachie-based real estate brokerage firm Greiner-Maltz of NJ confirmed the transaction with Jersey Digs. He said Stickley had a rolling move-out at the beginning of the year.
Ledvina, principal Raymond Musalo of Greiner-Maltz of NJ, and Mark Bethmann, the president and CEO of Manlius-based real estate firm BellCornerstone, marketed the lots and orchestrated the sale.
“The sale reflects a continued high demand for increasingly difficult-to-find standalone parcels on the Route 4 and Route 17 corridors,” Ledvina said. “Buyers are willing to go the extra mile to make a deal due to the limited inventory available.”
Property records from the Bergen County Clerk’s office show that E.C.A. Paramus LLC, which is affiliated with Stickley, and Kasada LLC transferred ownership of the property on April 30.
That deed transfer was made nearly three months after Boozyburbs reported that Raising Cane’s had plans to open a new storefront at that same location.
Raising Cane’s website lists locations in the Garden State in Brick Township, Burlington, Cherry Hill, Deptford, Edison, Fairfield, Glassboro, Linden, Marlton and Turnersville.
