A 4,859-square-foot Vitamin Shoppe in Union sold for $3.545 million, according to a Monday announcement from Marcus & Millichap, which handled the transaction.
Alan Cafiero, David Cafiero and Dean Matusiewicz, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, the Klein Group LLC, and secured the buyer, Greg Jemal.
“Net-leased assets along major retail corridors in northern New Jersey continue to be in high demand,” Cafiero said. “The Vitamin Shoppe is located on one of the most highly sought-after stretches of commercial highway in New Jersey, Center Island, Route 22.”
Located at 2002 Route 22, the New Jersey-based retailer of nutritional supplements is situated on a prime “Center Island” location on Route 22, providing frontage on both the eastbound and westbound lanes of the highway. The property features a double-net lease, with over 177,000 people and an average household income of over $134,000 within a three-mile radius.
The Route 22 retail corridor is home to numerous national retailers, including Target, Walmart, Dick’s Sporting Goods and Big Lots.
