NEW JERSEY—A private entity has paid $29 million to acquire 500 Chestnut Ridge Road, a 70,000-sq.-ft., grocery-anchored retail center in Woodcliff Lake, N.J. HFF marketed the property on behalf of the seller, AAG Management Inc.
The HFF investment sales team representing the seller was led by Jose Cruz and Andrew Scandalios, both senior managing directors, Kevin O’Hearn and Jeffrey Julien, both managing directors, and Michael Oliver, associate director.
Located in Bergen County, the center offers close proximity to the Garden State Parkway. The center, anchored by A&P Supermarket, is currently 100 percent leased and was renovated in 2011.