HFF Brokers $12 Million Sale of Essex Square in Bergen County, N.J.

LODI, N.J. — Holliday Fenoglio Fowler LP (HFF) has arranged the $12 million sale of Essex Square, a 16,000-square-foot retail strip center located within the Route 17 retail corridor in of Lodi, a suburb of New York City. Chris Munley, Kevin O’Hearn and Jose Cruz of HFF represented the seller, ARC Properties Inc. Capstone Realty Group advised the buyer, Pako Realty Corp., and facilitated a 1031 tax exchange of the center that was acquired in an all-cash transaction. Essex Square is a 100-percent-occupied, regional retail strip center leased to national and regional tenants, including Capital One Bank, 7-Eleven, MedExpress, Jimmy John’s Gourmet Sandwiches, Rita’s, Muscle Maker Grill and Great Clips. The two-building property is located at 184 Essex Street.