In another sign of Northern New Jersey’s evolving retail landscape, JLL Capital Markets has successfully advised TFE Properties on the sale of the River Road Shopping Center in Fair Lawn—marking the second ownership change in less than a year and opening the door for fresh redevelopment opportunities.
The 92,523-square-foot neighborhood center, located at 17-17 to 17-70 River Road, spans three buildings on 6.45 acres in one of Bergen County’s most desirable suburban corridors. Originally built in 1962, the property is anchored by Walgreens and Sherwin Williams, and includes a vacant grocery space with covered parking that previously housed ShopRite, which relocated to a nearby site in 2023.
With strong demographics and convenient access to Routes 208, 4 and 17 and Interstate 80, the Fair Lawn location continues to attract significant investor attention. The buyer, BSPSS Mid-Atlantic LLC, is expected to reposition the former ShopRite space for a new use, signaling the next chapter for a property that remains a vital part of the local business community.
“We’re thrilled to have assisted TFE Properties with the successful completion of their value-add strategy in less than one year from acquiring the property,” said Kevin O’Hearn, Senior Managing Director at JLL Capital Markets. “With limited new retail development and strong user demand, investors continue to find exceptional opportunity in northern New Jersey.”
The sale was jointly represented by JLL Capital Markets—including Senior Managing Directors Jose Cruz and O’Hearn and Senior Director J.B. Bruno—and The Goldstein Group, whose team of Marc Palestina, CJ Huter, Lew Finkelstein and Neil Goldstein led the local brokerage effort. Cushman & Wakefield’s Frank Truesdell and John Picco represented the purchaser.
“The purchaser has plans to reposition the former ShopRite space for a new use,” noted Palestina. “The property was initially introduced to the market for lease, but when the right sale opportunity emerged, ownership pivoted strategically—and it paid off.”
🏙️ Quick Facts: River Road Shopping Center
| Category | Details |
|---|---|
| Location | 17-17 to 17-70 River Road, Fair Lawn, NJ |
| Size | 92,523 sq. ft. across three buildings |
| Land Area | 6.45 acres |
| Built | 1962 |
| Tenants | Walgreens, Sherwin Williams, former ShopRite (vacant) |
| Seller | TFE Properties |
| Buyer | BSPSS Mid-Atlantic LLC |
| Seller Representation | JLL Capital Markets (Jose Cruz, Kevin O’Hearn, J.B. Bruno) & The Goldstein Group (Marc Palestina, CJ Huter, Lew Finkelstein, Neil Goldstein) |
| Buyer Representation | Cushman & Wakefield (Frank Truesdell, John Picco) |
| Redevelopment Potential | Former grocery store space with covered parking |
| Access | Routes 208, 4 & 17; Interstate 80 |
