Brokers from Marcus & Millichap represented both sides in the transaction. Seller Diversified Developers LLC, the commercial unit of the Parsippany-based Diversified Communities, was represented by Paul Hewitt, an investment specialist in the Elmwood Park office of Marcus & Millichap. Mark Gjonbalaj, of the firm's Manhattan office, represented the buyer, Jackson Square Equities LLC.
The two-building shopping center is anchored by childcare company the Learning Experience, which occupies a 10,000-sf out parcel building. The rest of the center consists of a multi-tenant strip of nearly 23,000 sf, with a roster that includes Quiznos and ReMax.
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