Big Bucks Behind Bergen’s Busy Shopping Spot
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$71.3 Million Loan Package Fuels Growth for High-Octane Grocery-Anchored Shopping Centers
A Retail Powerhouse in Bergen County
Just seven miles from the bustling streets of New York City, a 77,743-square-foot retail hub in Lyndhurst, New Jersey, has secured a $71.3 million loan package—and investors can’t get enough.
Lewandowski Commons, the crown jewel of this deal, is a Stop & Shop-anchored shopping plaza in one of America’s wealthiest counties. Within a three-mile radius, the average household income soars past $138,000, and within five miles, a population of 600,000 fuels relentless demand.
Why is this location so magnetic?
- Stop & Shop’s sales exceed $700 per square foot—proof that grocery retail remains a cash cow.
- Tenants pay just 2.2% of revenue in rent, a sweet spot that keeps landlords grinning and grocers thriving.
- Vacancy rates? A mere 0.3%—meaning nearly every square foot is producing income.
Southern Expansion: Publix, Kroger, and Bulletproof Demand
The loan isn’t just for New Jersey—six more grocery-anchored centers across Georgia, South Carolina, and Virginia share the spotlight. These properties, anchored by Publix and Kroger, sit in high-growth markets like:
- Atlanta
- Myrtle Beach
- Virginia Beach
Like their Northern counterpart, these centers boast near-full occupancy, thanks to the recession-proof nature of grocery retail. When economies stumble, people still buy food—ensuring steady rent checks.
Why Banks Can’t Resist Grocery-Anchored Deals
Investors and lenders have a simple rule: Follow the grocery money.
- Recessions don’t disrupt grocery sales—making these properties low-risk, high-reward investments.
- Northern New Jersey’s density and affluence amplify the appeal, while Southern metros offer explosive growth.
- Insurers like Protective Life and Nationwide are lining up to finance these deals, proving that predictable income streams are the new gold standard.
The Financing Breakdown
The funding came together through two strategic moves:
- Lewandowski Commons secured a loan from Protective Life, brokered by a specialized debt advisory team.
- The six Southern properties were financed by Nationwide, acting on behalf of Medipower Group.
The fact that two major insurers are willing to back these purchases underscores the ironclad reliability of grocery-anchored retail—a trend that’s been gaining momentum for years.
Bottom Line: In a world of economic uncertainty, one thing remains certain—people will always need groceries. And where there’s grocery demand, there’s investor appetite, bank financing, and unstoppable retail performance.
