$11.5M acquisition financing secured for grocery-anchored retail center in Clifton

MORRISTOWN, N.J., Feb. 12, 2026 – JLL Capital Markets announced it has arranged $11.5 million in acquisition financing for 1030 – 1050 Route 46, a 48,535-square-foot retail center located in Clifton, New Jersey.

JLL secured a three-year, floating-rate loan through Fidelity Investments on behalf of the borrower.

Occupying a 4.3-acre site at the intersection of Route 46 and Route 3, the property sits within one of New Jersey’s most heavily trafficked retail corridors, seeing approximately 56,000 vehicles daily. The formerly vacant commercial building is being repositioned as a grocery-anchored community retail center with complementary specialty uses. Notably, the property was 80% pre-leased prior to closing.

Northern New Jersey’s retail market continues to demonstrate strong fundamentals, with low vacancy rates and consistent rent growth. The Route 3-Garden State Parkway submarket, which includes Clifton, has shown exceptional performance, maintaining vacancy rates at just 1.7% over the past five years, significantly outperforming the broader regional market.

The retail center will undergo approximately $1.5 million in capital improvements, including façade enhancements, signage upgrades, parking lot repairs, HVAC system replacements, roof updates and additional modernizations to support its repositioned tenant mix.

Construction and property upgrades are expected to begin immediately upon closing, with stabilization anticipated within 18 months.

JLL Capital Markets’ Debt Advisory team led the transaction, including Ryan Carroll, Nazario Paragano and Christian Badalamenti.

“This transaction demonstrates continued investor confidence in well-located retail assets with strategic repositioning potential,” said Carroll. “The property’s irreplaceable location at major highway intersections and our client’s proven track record of successful retail transformations made this an attractive financing opportunity.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Fidelity is a privately held financial services company that strengthens the financial well-being of individuals, families, employers, wealth management firms and institutions through its diversified, market-leading businesses. With assets under administration of $15.0 trillion, including discretionary assets of $5.9 trillion as of March 31, 2025, the company employs more than 77,000 associates across the United States, Ireland and India. Founded 78 years ago, Fidelity focuses on delivering better outcomes for its broad and growing customer base.