Tice’s Corner, an Apple-anchored lifestyle retail center in Woodcliff Lake, NJ, has been sold for $109.5 million in a transaction arranged by David Adam Realty and Cushman & Wakefield. The property is located at 441 Chestnut Ridge Road and is described as one of New Jersey’s largest single-asset retail sales of the past decade.
The open-air center is positioned in one of Bergen County’s most affluent and supply-constrained retail markets. According to the parties involved, the tenant roster at Tice’s Corner is led by Apple and complemented by a curated mix of national lifestyle brands, including Pottery Barn, Anthropologie and Free People. The combination of these tenants is characterized as both well-established and high performing, with the buyers also seeing significant long-term growth potential at the property.
On the buy side, Cushman & Wakefield’s Joanna R. Manfro, Managing Director of Northeast Retail, represented WS Development in its acquisition of Tice’s Corner. The seller, WS Tice’s Inc., was represented by David Waldman, president of David Adam Realty. Both firms played distinct roles in bringing the deal together, coordinating a transaction that proceeded quickly despite the asset not being widely marketed.
Manfro described Tice’s Corner as a generational retail asset that had been held by the same legacy ownership for decades before the current sale. She noted that when the opportunity for a change in ownership emerged, investor interest was strong and competition for the asset was high. The process reportedly came together within a matter of days, underscoring the level of demand for well-located, institutionally anchored retail properties in constrained suburban markets.
The transaction underscores continued investor appetite for destination retail centers with a concentration of national brands and a track record of performance. While the parties did not disclose additional financial or operational details beyond the sale price, the scale of the deal and the prominence of the anchor tenant position Tice’s Corner as a notable retail investment trade within New Jersey over the last ten years.
