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Follow on Google News | Cushman & Wakefield Arranges Sale of Union County Retail PortfolioBy: Cushman & Wakefield "This offering, which was on the market for less than two months, drew interest from the full gamut of investors, from REITs to family businesses," The portfolio includes two long-term ground leases to ShopRite (85,000 square feet at 70 Central Ave.) and A&P (53,000 square feet at 1060 Raritan Road). Other national retail tenants include Bally Total Fitness and Rite Aid. The 10,052-square- "That visibility greatly impacts the success of that location," said Merin. "Exit 135 is also the gateway for a dense population that includes such affluent communities as Westfield and Scotch Plains. Residents have to pass directly by these retail locations to get to and from the parkway. "Multi-Care has been at that location for 23 years, ShopRite for 16 and A&P for more than 12," he said. "The tenure of the portfolio's tenants and their continued willingness to renew is clearly a reflection of the desirability of the location." Based in East Rutherford, N.J., Cushman & Wakefield's Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Connecticut and Pennsylvania. The team has completed more than $17 billion worth of transactions since 2000. End
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