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Retail Strip Trades for Nearly $9M

JACKSON, NJ-Diversified Developers sells the 33,000-sf Jackson Commons here on North County Line Road for just about $258 per sf.

By Eric Peterson | Updated on March 07, 2008

JACKSON, NJ-Jackson Commons, a 33,000-sf retail strip on North County Line Road here, has been sold for $8.5 million, which factors out to nearly $258 per sf. The property is brand new, with construction having been completed in Q4 of 2007.

Brokers from Marcus & Millichap represented both sides in the transaction. Seller Diversified Developers LLC, the commercial unit of the Parsippany-based Diversified Communities, was represented by Paul Hewitt, an investment specialist in the Elmwood Park office of Marcus & Millichap. Mark Gjonbalaj, of the firm’s Manhattan office, represented the buyer, Jackson Square Equities LLC.

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