NAI DiLeo-Bram arranges $8.55 sale of 69,750 s/f supermarket-anchored retail center

January 30, 2024 - Outside The Region

Middlesex, NJ NAI DiLeo-Bram & Co. (NAIDB) senior vice president Marc Shein has orchestrated the $8.55 million sale of a 69,750 s/f supermarket-anchored retail center on behalf of an unnamed seller. 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 VDiLeo, 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.”

Located at 242 Lincoln Blvd., SuperFresh Middlesex occupies 57,000 s/f of space that was a former Price Saver. There is 6,300 s/f of second-floor office space as well as a separate 6,115 s/f liquor store tenant. Additionally, the building has seven loading docks, a compactor pad and more than 200 parking spaces.

Situated on 3.9 acres adjacent to The View Apartments, SuperFresh Middlesex is less than two miles from The Lofts at Middlesex, another new 146-unit multifamily community on South Lincoln Avenue, as well as other key residential neighborhoods. Middlesex’s main commercial districts include Lincoln Boulevard and Bound Brook Road, both of which are lined with local, regional and national retailers, cafes, shops and restaurants. Bridgewater Commons and Menlo Park Mall are minutes away.

As an important hub within the Raritan Valley Region, Middlesex is bordered by Dunellen and Piscataway Township in a county that bears the same name as the borough. It is about 35 miles southwest of New York City and offers commuters two NJ Transit rail stations as well as bus and highway connectivity.

The buyer was represented by Bennett Realty & Development.