The Apple-anchored shopping center in Woodcliff Lake has a new owner. Tice's Corner, the 120,000-square-foot lifestyle center at 441 Chestnut Ridge Road, has been sold to WS Development.
David Adam Realty and Cushman & Wakefield announced the deal on Friday, October 30, 2026, with ROI-NJ reporting the sale price at $109.5 million. Real Estate NJ, however, described the transaction differently, reporting that WS Development paid an undisclosed price for the property. The two outlets' accounts of the deal's dollar figure don't line up, but both confirm WS Development is now the owner.
Tice's Corner had remained under the same legacy ownership for decades before this sale, according to ROI-NJ's reporting. The seller, WS Tice's Inc., was represented by David Waldman, president of David Adam Realty, while Cushman & Wakefield's Joanna R. Manfro, the firm's managing director of Northeast retail, represented buyer WS Development. Manfro said Tice's Corner was a generational retail asset that had been held by the same ownership group for decades.
A Sale That Moved Fast
The property was not broadly marketed before the sale, and the process that led to WS Development's purchase was highly competitive and completed within days, per ROI-NJ's account. The center sits in what the outlet described as one of Bergen County's most affluent and supply-constrained markets, a dynamic that likely fueled interest from buyers.
Tice's Corner currently houses 28 stores and restaurants spanning fashion, beauty, home goods, technology and dining, the site's report notes. Tenants include Apple, Anthropologie, J.Crew, Free People, Madewell, Athleta, Bluemercury and Ethan Allen, according to Real Estate NJ's rundown of the center's lineup — though the full tenant mix could shift as WS Development moves forward with its plans.
What Comes Next for the Center
Cushman & Wakefield's Manfro said WS Development understood the asset's scarcity and its significant embedded upside, calling the buyer an ideal steward for the center's next chapter. As leases roll over in the coming years, the center offers opportunities to mark rents to market, evolve the tenant mix and further enhance its positioning, according to the same report.
Part of a Broader Retail Buying Spree
The $109.5 million price tag reported by ROI-NJ reflects a premium investors continue to place on scarce, high-quality retail properties with durable income and room for future value creation. That appetite shows up in national data too: a JLL survey found 64% of investors planned to ramp up retail acquisitions this year, while only 48% expected to sell more. JLL also reported that retail now commands 14% of U.S. sector investment, with trailing 12-month transaction volume hitting $62 billion, a 31% jump, as new retail construction remains scarce — just 7.8 million square feet of new space delivered nationally in the first quarter of 2026, 25% below the 10-year average.
Other New Jersey retail centers have drawn similarly strong bidding in recent months. The 110,000-square-foot Hills Village Shopping Center in Bedminster recently sold for $60.7 million to a subsidiary of Charlotte-based Asana Partners, according to Jersey Digs. That property had traded for just $45 million less than two years earlier when a Longpoint subsidiary bought it from Chicago-based BIT Holdings 51, the outlet reported. ROI-NJ's report on the Tice's Corner deal placed it among one of New Jersey's largest single-asset retail transactions of the past decade.
