RIPCO Real Estate and Kampler Advisory Group announced that Lidl, the internationally renowned supermarket, agreed to purchase the former ACME Markets (ACME) site located at 80 New Bridge Road in Bergenfield from Klingensmith Associates, LLC for an undisclosed amount. The site, which was vacant since late 2017, consists of five-and-a-half acres and a 54,500 square foot structure.
“Thanks to our expansive reach, we sourced a variety of users and buyers and generated significant interest from global and national retailers and developers who were interested in repositioning the asset for residential and mixed-use,” said Florian Suserman, managing partner at RIPCO’s New Jersey office. “By the end of a fairly quick process, we and consultant Nina L. Kampler, who also strategically advised ownership, felt that Lidl made the most sense from an economic and community impact standpoint.”
Lidl, which has more than 10,000 stores across 28 countries, has yet to announce when it will open its doors at 80 New Bridge Road. The grocer has expanded its presence significantly since entering the United States market in mid-2017.
“Bergenfield, Teaneck and the surrounding area offer a viable market and wide-customer base for a grocer like Lidl; this pluralistic community is an extraordinarily strong consumer demographic,” said Nina Kampler, founder of Kampler Advisory Group and strategic advisor to the private family that had owned the property for decades. “Ownership is pleased with the outcome of the transaction; it was a pleasure to work closely with Florian and the RIPCO team to find a creative solution for this property in today’s often-challenged retail real estate landscape”.
A RIPCO team consisting of Suserman represented ownership to market the asset and broker the transaction; Kampler served as strategic advisor on behalf of ownership. Lidl represented itself in-house.
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