Tice's Corner retail center in Woodcliff Lake sells for $109.5 million
David Adam Realty and Cushman & Wakefield closed a huge deal.
The short version
- Tice's Corner in Woodcliff Lake traded for $109.5 million.
- The Apple-anchored shopping center sits in wealthy Bergen County.
- WS Development bought the generational retail property from legacy owners.
David Adam Realty and Cushman & Wakefield just closed the $109.5-million sale of Tice’s Corner, the Apple-anchored lifestyle retail destination located at 441 Chestnut Ridge Rd. In Woodcliff Lake, NJ. According to Connect CRE, the sale ranks among one of New Jersey’s largest single-asset retail transactions of the past decade.
Located in Bergen County’s affluent market, the property features Apple alongside national lifestyle brands like Pottery Barn, Anthropologie and Free People. Joanna R. Manfro, a Managing Director of Northeast Retail at Cushman & Wakefield, represented the buyer, WS Development. The seller, WS Tice’s Inc., was represented by David Waldman, the president of David Adam Realty.
"Tice’s Corner is a generational retail asset that had been held by the same legacy ownership for decades," said Manfro. When the opportunity for new ownership surfaced, it was a highly competitive process that came together within days, without the asset ever becoming broadly marketed.
For anyone watching Bergen County real estate, properties of this size rarely change hands after decades of family ownership. Big money is still chasing prime New Jersey brick and mortar.
