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HAWTHORNE, NJ-The Rag Shop Shopping Center at 111 Wagaraw Rd. here has been sold in a transaction in which the Kislak Co. repped both the buyer and the seller. The 110,000-sf asset carried a sale price of “approximately $11.5 million,” according to Kislak president Jeffrey Wiener. The identities of the buyer and the seller were not disclosed.

In the transaction, Wiener repped the buyer he describes as “a long-time Kislak client.” The seller, similarly a longtime client, was repped by Kislak sales specialist Janet Bortz, who obtained the listing of the property. Currently fully leased, the Rag Shop Shopping Center is situated near several major routes in Northern New Jersey.

Kislak, based in Woodbridge, NJ, has been aggressive in the retail sector recently. The company has been involved in such transactions as the sale, last year, of the 1.5 million-sf Monmouth Mall in Eatontown, NJ, as well as a portfolio of 17 shopping centers from New York to Florida, and a 230,000-sf class A shopping center in Albuquerque, NM.

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