Weiss Realty Affiliate Sells Fort Lee Starbucks /BofA Kiosk

Moonachie, NJ (September 2021) - Moonachie based Weiss Realty affiliate 2215 Route 4 Associates LLC announced it has sold a notable Bergen County retail asset that includes a Starbucks Coffee Drive-thru and a Bank of America ATM kiosk located on Route 4 East in Fort Lee, NJ to the JDA Group.

The 20,000 sf property, located at one of the busiest commuter highways in the country leading to the GW Bridge was a former Shell gas station and purchased by the Weiss affiliate in 2008. The ground-up build to suit project for Starbucks Coffee Company and the Bank of America ATM was completed in 2010 and earned Jaime Weiss the Fort Lee Chamber of Commerce “Beautification Award” for most ingenious and beautiful newly constructed complex. Jaime Weiss was also named Fort Lee “Person of the Year” for the development which was designed by Bilow Garrett Architects and the late David Beesley of MacDel Engineering. JDA Group, the Hoboken-based, full-service real estate development company acquired the property for $5.55 million.

“This deal is an exciting step for our company” said JDA Group’s CEO Greg Dell’Aquila. “In addition to giving us a great opportunity to acquire our first stand-alone retail property in Northern New Jersey, it adds two national, credit-rated tenants to our expanding portfolio - a move aligned with our vision for future growth.”

Timothy Connell, V.P. of JDA Group noted that the property’s drive-thru retail focus was a key consideration. “Over the past 18 months as the retail section has been put to the test, this pandemic-proof design has afforded tenants the ability to operate successfully and safely under the most challenging of environments.” Jaime Weiss agreed “the upside in these assets drove very strong interest from the buyer. Drive-thru demand is stronger than it was pre-Covid making it well-positioned to benefit long-term from consumer preference.”

JLL’s J.B. Bruno, Director of Capital Markets based in Morristown orchestrated the off-market transaction for the buyer.

Recognized for its expertise and total client commitment, Weiss Realty provides comprehensive industrial, retail, leasing, sales and investment services to both owners and tenants. Weiss Realty’s current portfolio comprises almost two million square feet of space. For more information please call Jaime or Matthew Weiss at (201) 814-1800 or visit www.jweissrealty.com