NAI James E. Hanson Named Exclusive Broker for 133,032-Square-Foot Retail Power Center in Riverdale, New Jersey
NAI James E. Hanson, widely recognized as the largest New Jersey-based full-service independent commercial real estate firm, has announced its appointment as exclusive brokerage for 110 Route 23 in Riverdale, New Jersey. The assignment tasks NAI James E. Hanson brokers Jonathan Kristofich and John Schilp with overseeing the marketing and sale of this prominent retail asset. The listing represents a compelling opportunity for retail real estate investors seeking stable, income-producing properties backed by long-standing national tenants in one of New Jersey's most commercially active corridors.
Property Overview: A Cornerstone of Riverdale Plaza
Situated on 14.51 acres, 110 Route 23 encompasses 133,032 square feet of retail space and functions as a key component of Riverdale Plaza, a large and well-established retail power center. The property was developed in 1998 and has maintained strong occupancy since its construction, anchored by two nationally recognized tenants whose presence speaks directly to the asset's long-term stability and investment appeal.
The property is triple-net leased to BJ's Wholesale Club, one of the country's leading warehouse club operators. BJ's is known for consistently delivering savings of 25% or more compared to traditional grocery and retail pricing across a broad selection of groceries, general merchandise, electronics, and ancillary goods. This lease structure minimizes landlord expenses and creates a reliable, predictable income stream — a highly attractive quality for today's commercial real estate investors.
In addition, the property carries a double-net lease with Staples, the widely recognized office supply retailer and industry leader in workspace solutions. Staples' product mix spans furniture, technology, cleaning supplies, and traditional office essentials, giving the store a diversified retail footprint that drives consistent consumer traffic throughout the year.
Strategic Location and Exceptional Accessibility
One of 110 Route 23's most valuable attributes is its strategic positioning at the intersection of Route 23 and Interstate 287 in northeastern Morris County. This location places the property at a critical interchange that connects three of New Jersey's most densely populated and economically active counties: Morris, Passaic, and Bergen. Easy access to Interstate 287 ensures that the property is reachable by a wide and diverse consumer base drawn from communities spread across the region.
The trade area served by 110 Route 23 is notably expansive. Its proximity to major transportation arteries means that the property doesn't simply serve local Riverdale residents — it functions as a regional shopping destination drawing consumers from a broad geographic radius. This wide trade area adds a layer of resilience to the property's retail performance that purely local assets often lack.
The Bergen County Blue Laws Advantage
Among the more distinctive demand drivers at 110 Route 23 is its proximity to Bergen County, where the famously strict Bergen County Blue Laws remain in effect. These laws prohibit the sale of certain retail categories on Sundays, including electronics, clothing, and furniture — categories that represent some of the most high-volume retail segments in the market.
As a result, Bergen County residents who wish to shop for these goods on Sundays must cross county lines to do so. 110 Route 23, with its accessible Route 23 and I-287 location, has become a preferred destination for these shoppers. This consistent influx of cross-county Sunday traffic creates a reliable and recurring demand advantage that is difficult to replicate at properties further removed from Bergen County's borders. For an investor, this represents a structurally embedded traffic driver that supports tenant performance and lease renewals over time.
Shadow Anchors Add Power Center Prestige
Beyond its in-place tenants, the property benefits from being shadow-anchored by two of America's most powerful retail brands: Home Depot and Target. Shadow anchors, while not directly part of the subject property, share the same retail environment and contribute significantly to overall shopper traffic within the power center. Home Depot and Target consistently rank among the top retail traffic generators in the country, and their co-tenancy at Riverdale Plaza elevates the shopping experience and increases the overall commercial draw of the center for all occupants.
This shadow-anchor dynamic makes 110 Route 23 not merely a standalone property investment, but a positioned asset within a thriving retail ecosystem — one that benefits from the gravitational pull of some of retail's most iconic brands.
Why This Listing Stands Out in Today's Retail Investment Market
The current commercial real estate landscape rewards properties that combine fundamentals: strong tenancy, strategic location, proven traffic, and lease structures that protect investor returns. 110 Route 23 checks all of these boxes. Investors in net-lease retail properties have demonstrated continued appetite for exactly this type of asset — one where national credit tenants provide long-term security, and locational advantages offer upside through sustained consumer demand.
Jonathan Kristofich summed up the opportunity clearly: "110 Route 23's combination of accessibility, visibility, and in-place leases with two national tenants make it an ideal retail property in the current market. We're honored to represent the seller in the assignment, and we look forward to procuring a purchaser for this fantastic piece of real estate."
His remarks highlight the three pillars that define 110 Route 23's investment thesis — accessibility via the Route 23 and I-287 interchange, visibility from one of the region's highest-traffic commercial corridors, and lease certainty backed by nationally recognized retailers.
About NAI James E. Hanson
NAI James E. Hanson is New Jersey's largest full-service independent commercial real estate firm, providing expert brokerage, property management, and advisory services across the state. With a deep roster of experienced professionals and a strong track record across retail, office, industrial, and investment property sectors, NAI James E. Hanson consistently delivers results for property owners, investors, and tenants navigating New Jersey's complex commercial real estate market.
To stay up to date with the firm's latest listings, transactions, and market insights, interested parties can follow NAI James E. Hanson on Facebook, Twitter, and LinkedIn, where the firm regularly shares news and market commentary relevant to New Jersey commercial real estate.
Key Takeaways for Retail Real Estate Investors
- Property size: 133,032 square feet on 14.51 acres within Riverdale Plaza, a major New Jersey retail power center.
- National tenants: Triple-net lease with BJ's Wholesale Club and double-net lease with Staples, both in place since 1998 construction.
- Regional accessibility: Prime Route 23 and Interstate 287 intersection serving Morris, Passaic, and Bergen counties.
- Unique demand driver: Bergen County Blue Laws funnel high-spending Sunday shoppers to the property every week.
- Shadow anchors: Home Depot and Target co-anchor Riverdale Plaza, driving sustained foot traffic that benefits all tenants.
- Exclusive representation: Jonathan Kristofich and John Schilp of NAI James E. Hanson are managing the marketing and sale process.
For investors seeking a well-positioned, income-producing retail asset in one of the Northeast's most dynamic commercial markets, 110 Route 23 in Riverdale, New Jersey represents a rare and compelling opportunity.