JLL Capital Markets advised on the sale of a 93,000 SF shopping center in Bergen County
News release
16 July 2025
Fair Lawn, New Jersey shopping center sold
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MORRISTOWN, N.J., July 15, 2025 – JLL Capital Markets announced today that it advised the seller, TFE Properties, on the sale of River Road Shopping Center, a value-add neighborhood center with redevelopment potential in Fair Lawn, New Jersey.
River Road Shopping Center, originally built in 1962, consists of 92,523 square feet of prime retail space spread across three buildings on a 6.45-acre site. Notable tenants include Sherwin Williams and Walgreens. The property also includes a vacant grocery store with covered parking that was previously leased to ShopRite.
River Road Shopping Center is located at 17-17 to 17-70 River Rd. within the densely populated and affluent town of Fair Lawn. The property benefits from quick access to major highways including Routes 208, 4 and 17 as well as Interstate 80, offering unmatched regional connectivity.
JLL’s Capital Markets Investment team advising the seller included Senior Managing Directors Jose Cruz and Kevin O’Hearn and Senior Director J.B. Bruno. JLL Capital Markets was also involved in the prior sale of this property, which occurred less than one year ago in August of 2024.
According to O’Hearn, “We’re thrilled to have assisted TFE Properties with the successful completion of their value-add strategy in less than one year from acquiring the property. With the lack of retail development in the region, combined with the exceptionally strong user demand, opportunistic investors are poised to do very well in this market.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
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 112,000 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 WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About TFE Properties
Established in 1979, TFE Properties is a dynamic commercial and residential developer known for its strategic approach to projects and acquisitions. With a focus on both new developments and revitalizing existing properties through renovations and market repositioning, the company has built a diverse portfolio spanning various asset classes, including retail centers, single net tenants, hotels, office buildings, apartment complexes, self-storage facilities, warehouse/flex buildings, and land.