FRANKLIN LAKES, NJ-The Kislak Company, Inc. recently completed the $22.23 million sale of the Urban Farms Shopping Center here. President Jeffrey Wiener represented the seller and longtime Kislak client, Franklin Farms Associates, LLC, in the sale to Urban Farms Acquisition, LLC and Two Sunny Hill Associates, LLC.

Located at the corner of High Mountain Road and Franklin Lake Road, the property includes the 90,000 square foot Urban Farms Shopping Center, which includes 74,000 square feet of retail space and 16,000 square feet of office space on the center’s ground and second floors, and a separate 16,000-square-foot office building.

“The Urban Farms Center is the shopping destination and a landmark in Franklin Lakes, with some of the strongest demographics in New Jersey, if not the Northeast, and it is also the de facto town center.” Wiener tells

“The sale shows the continued strength of and interest in solid and stable investment properties throughout northern New Jersey,” Wiener continues. “Although the retail market has obviously had its challenges since 2008, prime properties in A-plus locations continue to draw interest from regional and national investors and command aggressive prices.”

The center is anchored by locally based bakery Market Basket and also includes Starbucks, TD Bank, Hallmark and the Chateau Salon. Office tenants in the center and adjacent office building include a mix of local and national tenants. At the time of the closing, the property was around 96% leased.

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?


© 2023 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.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2023 ALM Global, LLC. All Rights Reserved.