Marcus & Millichap brokers sale of QuickChek-anchored retail center in Sayreville for $7.2M

Marcus & Millichap on Tuesday said it helped orchestrate the sale of a 25,898-square-foot shopping center in Sayreville for nearly $7.2 million.

“Unanchored retail strip centers are one of the most underrated product types in the market,” Alan Cafiero, Marcus & Millichap’s senior managing director of investments, said. “The combination of restaurants and service-oriented businesses, which are typically the backbone of the community, almost always fare very well in northern New Jersey. This property was no different, as we had eight written offers from different investors.”

Investment specialists Cafiero and Brent Hyldahl both had the exclusive listing to market the property on behalf of the seller and procured the buyer, a local LLC.

The center, anchored by QuickChek, is located at 881 Main St., just minutes from Exit 124 of the Garden State Parkway. It comprises 14 tenants, most operating on triple-net leases, and is currently 97% occupied by regional and local tenants. Situated in a densely populated area, the center is surrounded by 238,000 people within a five-mile radius and is also close to ongoing mixed-use and warehouse developments