Marcus & Millichap completes $10.6M sale of shopping strip

Marcus & Millichap announced on Monday the sale of a fully-occupied shopping strip in Mahwah for $10.6 million.

Alan Cafiero, Ben Sgambati, David Cafiero, and John Moroz, investment specialists of Marcus & Millichap’s New Jersey office, represented the seller of 1-21 Franklin Turnpike, a private investor, and Scott Geller of the firm’s same office procured the buyer, another private investor.

“Newer construction shopping centers rarely hit the market in Bergen County, especially in one of the top towns like Mahwah.  As soon as we began marketing the property, we received a significant amount of interest and multiple offers,” Cafiero said.