One of the properties is the 630,000-sf Elizabeth Center at Exit 13A in Elizabeth, anchored by Ikea's initial US outlet. Besides the Ikea unit, the property is co-anchored by Toys "R" Us.
The second property is a 550,000-sf shopping center on Route 4 at the Garden State Parkway in Paramus. Besides Ikea, the property also houses Bed Bath & Beyond, Christmas Tree Shops and Sport Authority.
The third-party assignment includes accounting, construction management, legal and marketing, according to David Garonzik, Ikea's asset manager.
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