CBRE announces $8.4M sale of Trader Joe’s/HomeSense center in Paramus

CBRE announced Tuesday it has arranged the $8.4 million sale of a 41,988-square-foot Trader Joe’s and HomeSense center in Paramus.

Jeffrey Dunne, David Gavin, Jeremy Neuer and Travis Langer of CBRE’s National Retail Partners represented the owner, The Hampshire Companies, in the deal and procured the buyer, a public real estate investment trust.

“The property provided a unique opportunity to purchase a grocery-anchored center in one of the densest and most renowned retail markets in the country. The center’s irreplaceable location and strong tenancy will provide stable cash flow for years to come,” Dunne said.

The center, located at 404 Route 17 North, is 100% leased to Trader Joe’s and HomeSense, a division of TJX Companies, CBRE said.