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Cushman & Wakefield Named Property Manager for Two N.J. Retail Assets

Monmouth Junction and Paramus, N.J. — Two new property management assignments in Monmouth and Bergen counties reflect targeted retail-sector expansion for Cushman & Wakefield’s New Jersey Asset Services practice. The shopping centers, Heritage Square in Monmouth Junction and Paramus Junction in Paramus, add approximately 166,000 square feet to the team’s portfolio.

Wasa Properties named Cushman & Wakefield to manage the 80,504-square-foot, three-building Heritage Square in Monmouth Junction. Michael Nevins and Betty Walker secured the assignment for Heritage Square, which is home to PetSmart, Bob’s Discount Furniture, Dunkin’ Donuts, Subway, Rita’s Italian Ice and Chase Bank.

The Paramus Junction assignment (pictured) involves an approximately 70,000-square-foot, fully leased property (home to DSW, PetSmart and H-Mart). Nevins, Walker, Asha Teelock and Noble Carpenter secured the Paramus Junction agency, with Walker heading the assignment for owner Deka Immobilien GmbH. Cushman & Wakefield Asset Services manages more than 1.7 million square feet of additional space in Washington, D.C., Boston, San Francisco and Edwardsville, Ill., on behalf of the international real estate fund.

“Heritage Square and Paramus Junction enjoy Class A locations along established retail corridors,” Nevins says. “We look forward to ensuring responsive operations and attractive environments for these retailers and shoppers alike. In today’s competitive environment, more institutional owners are turning to third-party providers like us to help uphold and enhance their properties’ positioning. We take pride in these two new agency wins.”

Cushman & Wakefield’s East Rutherford, N.J.-based New Jersey Asset Services team currently serves approximately 20.7 million square feet of space in the Garden State. The Asset Services platform provides comprehensive property management services throughout the asset life cycle. Focused on enhancing asset value, the firm’s professionals are empowered to minimize operating costs, improve efficiencies and enhance customer service in order to protect the value of each investment.

Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. For more information, visit www.cushmanwakefield.com.

 

 

SOURCE: Cushman & Wakefield

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