Q2 2012 Northern New Jersey, New Jersey Retail Property Sales Analysis

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Q2 2012 Northern New Jersey, New Jersey Retail Property Sales Analysis


There were no qualifying investment sales the second quarter of 2012, Reis reports. The rolling 12 month cap rate ended the quarter at 7.1%, based on five deals in the previous three quarters. The largest of those deals was the Bayonne Crossing power center, at 356,901 square feet, which sold in March 2012 for $67.9 million ($190 psf). By itself this deal nearly matched the annual sales total for 2011 and exceeded the total for the prior two years.