Friday, December 3, 2021 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 RBH Group announces $21M sale of industrial brownfield property in Newark Real Estate The Shop restaurant is coming to Chatham Plaza in Chatham Real Estate Six retail lease signings inked for Centurion Union Center Real Estate NAI Mertz sells 20-acre parcel in Bordentown to First Industrial Realty Trust Real Estate Progress Capital arranges $44M acquisition loan for 3-property multifamily portfolio Real Estate Donnelly Construction to build new 25,000 sq. ft. ground-up warehouse in Wayne LATEST ARTICLES $10M gift to NJPAC launches Colton Institute for Research and Training in the Arts,... Lifestyle December 3, 2021 RBH Group announces $21M sale of industrial brownfield property in Newark Real Estate December 3, 2021 Tilley and Phoenix partnership creates global distributor of value-added ingredients in regulated markets Manufacturing December 3, 2021 The Shop restaurant is coming to Chatham Plaza in Chatham Real Estate December 3, 2021 Six retail lease signings inked for Centurion Union Center Real Estate December 3, 2021 DIGITAL EDITION Nov. 29, 2021, Edition of ROI-NJ Nov. 15, 2021, Edition of ROI-NJ Nov. 1, 2021, Edition of ROI-NJ Oct. 18, 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 × We'd like to show you notifications for the latest news and updates Subscribe Later