An out-of-state grocer of culturally diverse foods with plans to establish a New Jersey flagship location has purchased a 21,929-square foot retail center in Edison, NAI DiLeo-Bram announced this week.
Just who it is, isn’t as clear.
The buyer, which paid $5.5 million for the center located at 1825 Route 27, was not disclosed.
The DiLeo-Bram brokerage team of Senior Vice President Marc Shein and Associate Vice President Robert DiLeo represented the seller, Sam Ash Properties Corp.
DiLeo said the incoming company has a perfect spot to set up shop.
The property is at an important regional business-corridor crossroads with a multicultural population, extremely favorable demographics and high vehicle-traffic counts, he said.
“When combining Route 27 and Plainfield Avenue alone, the parcel records a 50,000-plus per-day vehicle count, and is at the heart of a densely populated, high-income area,” he said.
Shein said the property had a lot of interest, which he attributed to its proximity to a four-way intersection location and Route 27.
Situated on 1.29 acres, the busy corner-retail property features two buildings: one that is 13,769 square feet plus basement and was delivered vacant, and another that includes three fully rented units totaling 8,160 square feet.
There is ample parking for 64 passenger vehicles as well as proximity to a New Jersey Transit bus stop, Edison Station and an abundance of highways, including Interstate 287, Route 1, Route 18 and I-95.
