NAI James E. Hanson Named Exclusive Broker for 133,032-Square-Foot Retail Power Center in Riverdale, NJ
NAI James E. Hanson, widely recognized as the largest New Jersey-based full-service independent commercial real estate firm, has announced it has been appointed the exclusive brokerage for a significant retail investment opportunity at 110 Route 23 in Riverdale, New Jersey. The assignment will be led by NAI James E. Hanson brokers Jonathan Kristofich and John Schilp, who will oversee all marketing and sales efforts for the property. This listing represents a compelling opportunity for investors seeking a stabilized retail asset in one of New Jersey's most strategically positioned commercial corridors.
About the Property: 110 Route 23, Riverdale, NJ
Situated on 14.51 acres in northeastern Morris County, 110 Route 23 is a 133,032-square-foot component of Riverdale Plaza, a well-established and highly trafficked retail power center. The property has been a fixture of the local retail landscape since its construction in 1998 and continues to attract strong consumer demand thanks to its prime location, national tenant mix, and outstanding regional accessibility.
The site is anchored by two nationally recognized retail brands. BJ's Wholesale Club, a leading warehouse club operator known for consistently delivering 25% or more in savings on groceries, general merchandise, and ancillary products, occupies the property under a triple-net lease. Staples, a national leader in office supplies and workspace solutions — covering everything from furniture and technology to cleaning products and traditional office supplies — operates under a double-net lease structure. Both leases have been in place since the property's construction, offering investors a rare combination of long-term income stability and tenant creditworthiness.
Shadow Anchors and the Power of Riverdale Plaza
Beyond its primary tenants, 110 Route 23 benefits enormously from being shadow-anchored by two of America's most powerful retail brands: Home Depot and Target. These nationally recognized big-box retailers generate substantial foot traffic to Riverdale Plaza as a whole, creating a synergistic retail environment that consistently drives consumer visits and supports the sustained performance of every tenant within the center.
Power centers anchored by category-dominant retailers like Home Depot and Target are widely regarded among commercial real estate investors as some of the most resilient retail formats in today's market. Their ability to draw large volumes of shoppers on a regular basis provides significant insulation against the volatility that has affected other segments of the retail sector in recent years.
Strategic Location: Accessibility Across Three Counties
One of the most compelling attributes of 110 Route 23 is its exceptional geographic positioning. Located near the intersection of Route 23 and Interstate 287 in northeastern Morris County, the property enjoys direct and convenient access to a broad regional trade area spanning Morris, Passaic, and Bergen counties. Interstate 287 is one of New Jersey's most critical commercial arteries, connecting commuters and consumers across a densely populated and economically robust region.
This accessibility translates directly into an exceptionally wide trade area draw — a key metric for retail investment performance. The property is not merely a local convenience destination; it functions as a regional shopping hub capable of attracting customers from a substantial geographic radius.
Bergen County Blue Laws: An Unexpected Competitive Advantage
Adding another dimension to the property's investment appeal is a regulatory dynamic unique to northern New Jersey. Bergen County, one of the most populous and affluent counties in the state, enforces longstanding Blue Laws that prohibit the sale of certain retail items on Sundays. Restricted categories include electronics, clothing, and furniture — product lines that represent a significant share of consumer spending.
As a result, Bergen County residents seeking to make these types of purchases on Sundays regularly travel across the county line to nearby Riverdale, where no such restrictions apply. This recurring, predictable influx of Bergen County shoppers gives 110 Route 23 and Riverdale Plaza a distinct and durable competitive advantage that is essentially baked into the market by law. For investors, this translates to demand support that cannot be easily replicated or disrupted by competition within Bergen County itself.
Expert Perspective from NAI James E. Hanson
"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, one of the lead brokers on the assignment. "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."
Kristofich's remarks underscore what seasoned retail real estate investors already understand: properties combining long-term NNN and NN leases with credit tenants, superior highway visibility, and multi-county accessibility are increasingly rare finds in the current investment landscape. Rising interest rates and market uncertainty have narrowed the field of truly stabilized, high-quality retail offerings, making assets like 110 Route 23 stand out sharply among available listings.
Why This Listing Matters for Commercial Real Estate Investors
For buyers active in the New Jersey commercial real estate market, this listing checks nearly every box associated with a premium retail investment. The property features a stable, long-tenured income stream backed by two national credit tenants, shadow anchoring by two of the country's top big-box retailers, a large land position with significant physical presence, and a location that benefits from both interstate highway access and a legislatively enforced competitive moat in the form of Bergen County's Blue Laws.
Whether the buyer is a private investor, an institutional fund, or a 1031 exchange candidate seeking a replacement property, 110 Route 23 represents the kind of low-risk, income-producing retail asset that commands serious attention in today's market.
About NAI James E. Hanson
NAI James E. Hanson is the largest New Jersey-based full-service independent commercial real estate brokerage firm. With deep expertise across office, industrial, retail, and investment sales, the firm has a well-established track record of successfully representing buyers, sellers, landlords, and tenants throughout New Jersey and the greater New York metropolitan area. For updates on the latest transactions and news from NAI James E. Hanson, interested parties can follow the firm on Facebook, Twitter, and LinkedIn.
For more information about the listing at 110 Route 23 in Riverdale, NJ, or to inquire about the purchase opportunity, contact Jonathan Kristofich and John Schilp at NAI James E. Hanson directly.