Secaucus Retail Center Sells for $11.5 Million

55 Hartz Way, Secaucus, NJ

SECAUCUS, NJ— A retail shopping center at 55 Hartz Way , located on the corner of Secaucus Road and Hartz Way , in Secaucus, NJ, was sold in a transaction valued at $11.5 million. The two-story property contains approximately 74,000 square feet and sits on a 5.8-acre lot. The center consists of nine commercial units of office and retail space. Recent tenants include Escada, Nine West, Kasper, Fragantics and Design Within Reach Outlet . The building features solar panel roofing and has plans in progress to utilize geo-heating systems. The sale price equates to approximately $155 per square foot. The property is situated within Secaucus Outlet Center , close to prominent retail outlets such as Gucci, Calvin Klein, Nautica, Kenneth Cole, The Children’s Place and Tommy Hilfiger , drawing substantial foot and vehicle traffic. The property is also conveniently accessible via the Meadowlands Parkway and New Jersey Transit. Cushman & Wakefield’s Dmitry Shaplyka and Fahri Ozturk exclusively represented the seller in this transaction. David Cantor of Team Resources represented the buyer. Neither buyer nor seller was identified. “This property is a unique asset – a large outlet center with easy access to New York City and nearby airports along with high-end retail tenants,” says Shaplyka . “To the satisfaction of our client, we were able to maximize the value of this property to its fullest potential by securing the best-suited buyer with owner-user requirements.” The buyer will receive Grow NJ tax credits for bringing additional jobs to the Garden State, says Ozturk .