New Jersey's Southfield Center sold

A subsidiary of New York-based Navika Capital Group LLC recently purchased the Southfield Center in South Plainfield, N.J., for $19.6 million.

Southfield Crown Realty acquired the 160,000-square-foot, class A office building from Realty Associates Iowa Corp.

The three-story asset is situated on nearly 15 acres at the intersection of Cragwood and Hadley roads, and features an on-site sundries/sandwich shop and daycare center. At the time of sale, the property was 92 percent leased.

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