HFF Negotiates Sale of 350,000 SF Retail/Warehouse Center in New Jersey

by Amy Works

NORTH BERGEN, N.J. — HFF has arranged the sale of Tonnelle Plaza, a retail center with a warehouse component in North Bergen. 8101 Tonnelle Avenue LLC sold the 350,000-square-foot property to an affiliate of Northeast Capital Group and BHN Associates for an undisclosed price. Developed in 1990 and renovated in 2008, the property is situated on 12.6 acres at 8101 Tonnelle Ave. The center is occupied by ALDI, Burlington Coat Factory, Planet Fitness, Chuck E. Cheese, JP Morgan Chase Bank, Sally Beauty Supply, Subway, McDonald’s, All Pet Distribution and Good Chinese Kitchen. In addition to the 155,000-square-foot retail space, the two-level center has 196,000 square feet of warehouse space fully leased to three tenants. Jose Cruz, Kevin O’Hearn, Michael Oliver, Steve Simonelli and Andrew Scandalios of HFF represented the seller in the transaction.

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