Cushman & Wakefield’s Metropolitan Area Capital Markets Group has been named exclusive agent for the sale of Pacesetter Park Shopping Center in Pomona. Located at 1581 Route 202, the 98,159-square-foot, grocery-anchored retail property is 98 percent leased.
“This is a well-located, quality-constructed neighborhood center with a strong roster of service-oriented retailers,” Merin said. “Grocery-anchored assets remain the darling of the investment community, and Pacesetter Park also benefits from the recent opening of Retro Fitness, which will boost overall sales and daily foot traffic. Additionally, with all of its anchor space now occupied, the property is well positioned to attract additional national concepts.”
Merin noted that the property’s historic strong performance ties to excellent local demographics. “The average household income within a three-mile radius of Pacesetter Park is $130,452,” he said. “The Village of Pomona spans the towns of Ramapo and Haverstraw. Ramapo, with a total population of 134,944, is the sixth-largest city in the State of New York. Simply put, this is an ideal site for suburban retail.”