Vision Real Estate Partners Acquires New Jersey Retail Center

SADDLE BROOK, NJ–Vision Real Estate Partners has acquired 55-75 Mayhill Street, a neighborhood shopping center comprised of two buildings, totaling 119,000 square feet in Saddle Brook, NJ.

The 12-acre site is anchored by a 62,000-square-foot A&P supermarket and is approved for an additional 12,000 square feet of retail space. Additionally, the site has 45,000 square feet of near-term availability, which can be leased as a single unit or divided into multiple units.

Vision Real Estate Partners and the seller were represented in the transaction by José Cruz, senior managing director, of Holliday Fenoglio Fowler, with managing director Kevin O'Hearn and real estate analyst Robert Borny. HFF's Jon Mikula and Jim Cadranell worked on behalf of Vision Real Estate Partners to secure acquisition financing through Oritani Bank.

“We've owned property in Bergen County before and know that it's a great socio-economic marketplace, has significant population, and good infrastructure,” Vision's founder and managing partner tells GlobeSt.com exclusively. “The location and demographics speak for themselves. Given that location, we anticipate substantial demand for the space that is becoming available. It's a proven location from a grocery-anchored shopping center standpoint. There's a good opportunity here for it to be re-tenanted, either single- or multi-user.”