NEW JERSEY—One Liberty Properties Inc. has purchased 485 Harmon Meadow Blvd. from Hartz Mountain Industries for $16.4 million. The freestanding, 45,000-sq.-ft. property is located in Secaucus and is the home of an LA Fitness location.
Cushman and Wakefield metropolitan area capital markets group members Andrew Merin, David Bernhaut, Gary Gabriel and Jared Zimmel orchestrated the sale.
“One Liberty Properties took advantage of a compelling opportunity to purchase a net-leased, single-tenant retail property with more than 12 years of remaining term – in one of the country’s most densely populated markets,” Zimmel said.
The LA Fitness Meadowlands building is part of the 200-acre, master-planned Harmon Meadow complex, which includes 4 million sq. ft. of retail office, hotel, entertainment and convention space.
Completed in 2009, 485 Harmon Meadow Blvd. is in close proximity to Route 3, the New Jersey Turnpike and Route 17.