Prominent Bergen County Shopping Center Changes Hands

Wafra Inc. partners with Crossroads Companies to acquire Interstate Shopping Center in Ramsey, New Jersey.

Apr. 15, 2026 at 10:59pm

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A highly polished, chrome and glass shopping cart floating on a clean white background, symbolizing the evolving retail industry and the need for shopping centers to adapt.A minimalist still life captures the shifting retail landscape as a prominent Bergen County shopping center changes ownership for the first time in decades.Ramsey Today

Wafra Inc., a $30 billion global investment manager based in New York City, has announced the acquisition of Interstate Shopping Center, a 348,000-square-foot grocery-anchored retail property in Ramsey, New Jersey. Wafra partnered with New Jersey-based Crossroads Companies in a joint venture to purchase the property, which is one of the region's most visited retail destinations.

Why it matters

The transaction marks the first time the property has changed ownership since it was originally acquired in the early 1990s, signaling a shift in the retail landscape of Bergen County. The sale reflects the continued investor interest in high-performing shopping centers, especially those anchored by grocery stores and national retailers.

The details

Located along the busy Route 17 corridor, Interstate Shopping Center consists of seven buildings and 42 retail units. It is anchored by ShopRite, along with national tenants including TJ Maxx, Burlington, Ulta Beauty, Michaels, and DSW. The center attracts more than 4.3 million visitors annually and ranks in the 95th percentile for foot traffic compared to other shopping centers.

  • The property was originally acquired in the early 1990s.
  • The recent acquisition was announced on April 15, 2026.

The players

Wafra Inc.

A $30 billion New York City-based global investment manager that acquired Interstate Shopping Center in a joint venture with Crossroads Companies.

Crossroads Companies

A New Jersey-based real estate firm that partnered with Wafra Inc. to acquire Interstate Shopping Center and will oversee leasing and property management moving forward.

Interstate Shopping Center

A 348,000-square-foot grocery-anchored retail property in Ramsey, New Jersey that attracts over 4.3 million visitors annually.

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What they’re saying

“We are excited to acquire Interstate Shopping Center in partnership with Crossroads. As one of the region's most visited retail destinations, this transaction is consistent with our strategy of acquiring high performing shopping centers in affluent trade areas. We see meaningful opportunity to build on the center's strengths and drive long-term value for our investors.”

— David Hamm, Head of Traditional Real Estate at Wafra

“We are thrilled to partner with Wafra on the acquisition of Interstate Shopping Center, and to serve as its exclusive leasing and property manager. With its exceptional location, strong tenant mix, and vibrant customer base, the center is one of the region's premier retail destinations, and we look forward to building on its success. This transaction reflects the strong collaboration between our teams, and we're grateful to everyone who helped make it possible.”

— Steve Hittman, Founder and CEO of Crossroads Companies

What’s next

Crossroads Companies will oversee the leasing and property management of Interstate Shopping Center moving forward as part of the joint venture with Wafra Inc.

The takeaway

The sale of Interstate Shopping Center represents the changing retail landscape in Bergen County, as investors continue to seek out high-performing shopping centers anchored by grocery stores and national brands. The partnership between Wafra and Crossroads Companies aims to build on the center's strengths and drive long-term value.