Cushman & Wakefield announced on Monday the firm has arranged for the $22.6 million sale of Denville Commons, a 73,000-square-foot, grocery-anchored shopping center in Denville.
The property, which is situated on 9 acres and is located at 3130 Route 10, was acquired by Longpoint Realty Partners from Denville Commons Associates L.P., Cushman & Wakefield said in a news release.
The firm’s Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt, Max Helfman, Seth Pollack and Andrew Schwartz, all sales specialists, procured the buyer.
“In today’s evolving retail landscape, co-tenancies that include food, experiential entertainment, fitness, personal services and other non-traditional uses are key to maintaining a shopping center’s competitive positioning,” Bernhaut said.
The center was 90% occupied with 16 tenants when the sale took place.