The Shoppes at Flemington, a 130,613-square-foot retail center anchored by Homegoods and Ulta Beauty, recently sold for $6.25 million, according to an announcement from Marcus & Millichap, which brokered the deal.
“Well-located, multitenant shopping centers in northern New Jersey are one of the most sought-after product types in the market,” Alan Cafiero, senior managing director of investments, said. “The Shoppes at Flemington was no different, as we had over 10 written offers on the property, which ultimately sold to a buyer completing a 1031 exchange.”
Cafiero and Brent Hyldahl, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, Shoppes at Flemington LLC, and procured the buyer, 1003 South Hanover LLC.
Located at 100 Reaville Ave., the center is positioned at the main intersection of Route 202 and Route 31 in Hunterdon County and is comprised of 26 national and local tenants.
