CBRE Brokers Sale of Retail Plaza in New Jersey for $26.2M

HAZLET, N.J. — CBRE has arranged the sale of Kmart Plaza, a retail center located in Hazlet.

Goodrich Hazlet LLC, an affiliate of Goodrich Management, sold the property to Onyx Equities for $26.2 million. The 203,912-square-foot retail property is occupied by Kmart, Bank of America, TGI Friday’s, GNC, GameStop and Payless Shoes. At the time of sale, the property was 71 percent occupied. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller and procured the buyer.

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