NAI DiLeo-Bram & Co. (NAIDB) Senior Vice President Marc Shein orchestrated the $8.55M sale of a 69,750-square-foot, supermarket-anchored retail center on behalf of an unnamed seller in Middlesex, New Jersey. Following the sale, the retail center’s fully renovated supermarket space opened as an all-new SuperFresh in time for the 2023 holiday season.
Part of the Key Food Stores cooperative, SuperFresh Middlesex is the chain’s second-largest store behind Linden and part of Food World Market, a grocery-store company specializing in West Indian, Asian and American products.
“SuperFresh Middlesex brings a much-needed supermarket back online within the borough to meet the daily grocery needs of about 294,000 people within a five-mile radius,” said Shein, who spearheaded the NAIDB brokerage team that included Robert V. DiLeo, associate. “This modern neighborhood retail center also attracted the buyer because of its high-visibility presence along one of the most-traveled commercial districts in the area and walkable proximity to an adjacent 200-unit multifamily development.”
Situated on 3.9 acres at 242 Lincoln Blvd., SuperFresh Middlesex occupies 57,000 square feet that was a former Price Saver. There is 6,300 square feet of second-floor office space as well as a separate 6,115-square-foot liquor store tenant. Additionally, the building has seven loading docks, a compactor pad and more than 200 parking spaces.
The buyer was represented by Bennett Realty & Development.
