85,000 square feet changes hands in New Jersey

The Kislak Co. Inc. recently negotiated the $23.9 million sale of 4800 Broadway and 4801 Broadway, a mixed-use complex of retail and office space in Union City, N.J.

Totaling 85,000 square feet, 4800-4801 Broadway were both fully occupied at the time of sale. 4800 Broadway is a 42,500-square-foot, mixed-use building and includes tenants such as Dunkin Donuts, Pizza Hut, Cablevision, Hudson County Municipal offices and the State of New Jersey offices. 4801 Broadway also totals 42,500 square feet and includes a supermarket, 99-cent store, radiology office and daycare center. Both buildings offer on-site parking.

A partnership between Paramount Acquisitions LLC and JD Union LLC purchased the complex from 4800 Broadway LLC, 4801 Broadway LLC and Goal Investments.

EastGroup Properties Inc. is a self-administered equity real estate investment trust operating primarily in California, Florida, Texas and Arizona.

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