Wednesday, November 24, 2021 Sign in / Join About ROI-NJ Home Sectors ROI Influencers Multimedia Sponsored Content Digital Edition Home Real Estate Mack-Cali sells Wegmans-anchored center in Hanover for $46M, JLL says Real Estate Mack-Cali sells Wegmans-anchored center in Hanover for $46M, JLL says ByEric Strauss(Hanover) - July 7, 2021 Wegmans Retail Center, 34 Sylvan Road, Hanover. - JLL Capital Markets Mack-Cali Realty Corp. has sold a grocery-anchored retail center in Hanover for $46 million, according to real estate firm JLL Capital Markets. JLL said the Wegmans Retail Center at 34 Sylvan Road was sold to an undisclosed buyer. JLL marketed the property on behalf of the seller and represented the buyer in the transaction. The 133,276-square-foot shopping center includes a Wegmans Food Markets stores and Panera Bread, and the deal includes two nearby restaurant buildings, leased to Capital Grille and Seasons 52. “We are pleased to have successfully transformed this property over the course of our ownership, while generating value for our investors and delivering built-to-suit developments that meet the needs of our retail tenants and the Hanover and Morris County residents they serve,” Mack-Cali’s Ricardo Cardoso, executive vice president and chief investment officer, said in a prepared statement. The JLL Capital Markets team handling the deal included Jose Cruz and Kevin O’Hearn, senior managing directors; Michael Oliver and Steve Simonelli, managing directors; and J.B. Bruno and Nicholas Stefans, directors. “We have seen a significant increase in retail interest overall, but specifically in the longer-term credit leases,” Cruz said in a statement. “The buyer pool for retail in general has increased since the start of 2021. Demand for the Wegmans center was very strong from all buyer types, including institutional groups.” Previous article N.J. sees strong demand for lab space, CBRE report says Next article Hampshire Cos. buys vacant industrial building from borough of Allendale Eric Strauss estrauss@roi-nj.com @acerimrat RELATED ARTICLESMORE FROM AUTHOR Real Estate Diversified Properties welcomes new CFO/COO Real Estate Hanson inks office space in Englewood Cliffs for real estate development firm relocation from Brooklyn Real Estate CBRE expands tri-state investment sales team Real Estate Alfred Sanzari Enterprises’ the Atrium at Glenpointe nears full occupancy Real Estate Wonder Lofts, Hoboken’s historic Wonder Bread factory community, already 50% sold Real Estate Lee & Associates promotes industrial adviser to partner LATEST ARTICLES Spirit of giving celebrated in Camden and Bergen counties Food & Hospitality November 24, 2021 NJHA analysis shows social determinants predicted communities most impacted by pandemic Health Care November 24, 2021 Atlantic Health gets $80K grant to promote mammograms in Return to Screening initiative Health Care November 24, 2021 BD names new SVP of investor relations Health Care November 24, 2021 Campbell appoints new VP for corporate responsibility and sustainability Food & Hospitality November 24, 2021 DIGITAL EDITION Nov. 15, 2021, Edition of ROI-NJ Nov. 1, 2021, Edition of ROI-NJ Oct. 18, 2021, Edition of ROI-NJ Oct. 4, 2021, Edition of ROI-NJ Get a return on your information. Subscribe to our daily newsletters today! ADDITIONAL LINKS Subscribe Media Kit Report News Advertise Contact ROI-NJ FOLLOW US Copyright © 2020 ROINJ. All rights reserved Powered by Web Publisher PRO X ×