ROCKAWAY TWP.-The newly constructed Dick’s Sporting Goods store here has been sold by an affiliate of the Morristown-based Hampshire Cos. to a pair of investment groups. Carport LLC and 111 ON Realty Corp. are the new owners of the 80,000-sf unit, which traded for $26 million, or approximately $325 per sf.

“The purchase of the store provides an exceptional triple-net investment,” says Jeffrey Dunne of CB Richard Ellis’ New York Tri-State Region Institutional Group, who brokered the deal. “It will provide the new ownership with long-term, predictable cash flow,” says Dunne, who notes that Dick’s Sporting Goods holds a lease that runs through February 2027.

The Dick’s store is within Rockaway Town Plaza, a 410,000-sf power center that sits adjacent to the 1.2 million-sf Rockaway Townsquare Mall. Both shopping centers are projects of Simon Property Group. A 154,000-sf Target store sits just to the south of Dick’s, while a multi-tenant 108,000-sf strip abuts the property to the north.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.