Waldbaums Shopping Center Sold For $10 Million

The square-block sized shopping center housing Waldbaums and other retailers on Ocean Avenue between Voorhies Avenue and Shore Parkway has been sold for an even $10 million to Norse Realty, LLC.

The 47,320 square feet of building at 3078 Ocean Avenue (3090 Ocean Avenue) sold for $211 per square foot. It sits on an irregular lot – including parking – that measures about 107,000 square feet. The deal closed on May 6.

The property was previously owned by Capital One Bank, which is also a tenant. In addition to Waldbaums and the bank, the property is home to a Duane Reade.

No word yet on whether the new owner plans to develop. Norse Realty owns a number of local shopping centers, including the strip mall adjacent to Trump Shopping Center on Neptune Avenue, which is home to a Walgreens.