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 it has been named the exclusive brokerage for 110 Route 23 in Riverdale, New Jersey. The assignment will be led by the firm's experienced brokers Jonathan Kristofich and John Schilp, who will oversee all marketing and sales efforts for this high-profile retail asset. The listing represents a compelling investment opportunity in one of northern New Jersey's most strategically positioned retail corridors.
Property Overview: A Premier Retail Asset at 110 Route 23
Situated on 14.51 acres in northeastern Morris County, 110 Route 23 is a 133,032-square-foot component of Riverdale Plaza, a large and well-established retail power center. The property has been a cornerstone of the local retail landscape since its construction in 1998, and its long-standing tenancy record speaks to the enduring appeal of the location. Its scale, physical condition, and tenant profile position it as a standout listing in today's competitive commercial real estate market.
The property is structured around two strong national tenants. BJ's Wholesale Club, a leading warehouse club operator known for consistently offering shoppers savings of 25% or more on groceries, general merchandise, and ancillary items, occupies the space under a triple-net lease. Staples, the well-known office supply retailer and industry leader in workspace products ranging from furniture and technology to cleaning supplies and traditional office staples, holds its space under a double-net lease. Both leases have been in place since the property's initial development, providing investors with a stable, long-term income stream from nationally recognized and financially sound retailers.
Shadow Anchors Add Significant Draw to Riverdale Plaza
Beyond the property's own tenants, 110 Route 23 benefits enormously from its position within the broader Riverdale Plaza power center, which is shadow-anchored by two of the nation's most recognized retail brands: Home Depot and Target. These shadow anchors generate substantial foot traffic that benefits all tenants in and around the center, reinforcing its status as a preferred shopping destination for consumers throughout the region. The combined drawing power of BJ's Wholesale Club, Staples, Home Depot, and Target makes Riverdale Plaza one of the most visited retail destinations in Morris County.
Strategic Location Offers Exceptional Regional Accessibility
One of the most compelling attributes of 110 Route 23 is its exceptional location near the intersection of Route 23 and Interstate 287 in northeastern Morris County. This positioning provides the property with seamless accessibility to three of New Jersey's most densely populated and economically vibrant counties: Morris, Passaic, and Bergen. Interstate 287 is one of the state's primary arterial highways, connecting suburban communities with major employment centers and enabling retailers at this location to draw from an exceptionally wide trade area.
The property's visibility from both Route 23 and the surrounding highway network ensures that it benefits from high daily traffic counts, further enhancing its attractiveness to potential investors. For retail real estate, the intersection of accessibility and visibility is a critical value driver, and 110 Route 23 checks both boxes convincingly.
Bergen County Blue Laws Drive Additional Consumer Demand
A unique and particularly noteworthy demand driver for 110 Route 23 is the Bergen County Blue Laws. Bergen County, which borders this trade area to the east, enforces laws that prohibit the sale of certain retail items on Sundays, including electronics, clothing, and furniture. This restriction motivates a significant number of Bergen County residents to cross county lines on Sundays to shop at destinations like Riverdale Plaza, where no such restrictions apply.
This dynamic effectively expands the property's trade area beyond what geography alone would suggest, creating a consistent influx of weekend shoppers from one of the most populous and affluent counties in New Jersey. For investors, this is a structural demand advantage that is not easily replicated and adds a meaningful layer of resilience to the property's long-term performance outlook.
What the Brokers Are Saying
"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," said Jonathan Kristofich of NAI James E. Hanson. "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."
This statement reflects the broader sentiment among retail real estate professionals that well-located, net-leased properties anchored by necessity-driven retailers continue to attract strong investor interest. In a market environment where retail real estate has undergone significant transformation, assets like 110 Route 23 — with proven tenants, long operating histories, and favorable lease structures — stand out as particularly attractive.
Why This Listing Matters for Commercial Real Estate Investors
For investors seeking stable, income-producing retail real estate in the northeastern United States, 110 Route 23 offers a rare combination of features. The triple-net and double-net lease structures minimize landlord obligations and provide predictable cash flow. The property's two national tenants bring financial credibility and brand recognition. The shadow anchors drive continuous foot traffic. And the location's geographic advantages — including the Bergen County Blue Laws effect — create a durable competitive moat that supports long-term occupancy and value.
NAI James E. Hanson's deep expertise in New Jersey commercial real estate, combined with the firm's proven track record in retail investment sales, positions the team well to identify a qualified buyer for this asset. Investors interested in learning more about 110 Route 23 in Riverdale, New Jersey, are encouraged to reach out to Jonathan Kristofich and John Schilp at NAI James E. Hanson directly for additional information and due diligence materials.
About NAI James E. Hanson
NAI James E. Hanson is the largest New Jersey-based full-service independent commercial real estate firm, offering comprehensive brokerage, property management, and advisory services across all asset classes. The firm serves clients throughout New Jersey and the broader New York metropolitan region, leveraging deep local market knowledge and a global network of commercial real estate professionals. To stay current with the firm's latest transactions and news, follow NAI James E. Hanson on Facebook, Twitter, and LinkedIn.