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Paramus Shopping Center Home To H-Mart, DSW Sold To Investment Group

A Paramus shopping center home to H Mart, DSW and PetSmart was recently sold to a real estate property management and investment company.
A Paramus shopping center home to H Mart, DSW and PetSmart was recently sold to a real estate property management and investment company. Photo Credit: Cecilia Levine

A Paramus shopping center home to H Mart, DSW and PetSmart has been purchased by a real estate investment group.

"Paramus Junction" -- directly across from the Garden State Plaza on Route 17 -- last month sold to Deka Immobilien GmBH from Invesco Real Estate and Advance Realty, NorthJersey.com reports.

The sale was arranged by arranged by Cushman & Wakefield, who did not disclose the price.

The 75,000-square-foot property was last sold in 2015 for $24.7 million.

The property's assessed value increased from $22.59 million to $23.13 million after minor renovations, Paramus tax assessor James Anzevino told NorthJersey.com.

Cushman and Wakefield sales specialist Brian Whitmer noted that the property is a prime investment target, having been occupied since its completion in 1992.

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