Marcus & Millichap on Thursday announced it helped sell Quakerbridge Shoppes, a 42,912-square-foot multi-tenant retail center located at 3800 Quakerbridge Road in Hamilton Township for $8,336,000.
“This center had small-footprint stores and below-market rents, allowing the new owner to increase the value of the shopping center,” Alan Cafiero, senior managing director investments for Marcus & Millichap said. “In addition, the center was well-positioned within the market at a hard-corner, traffic-light intersection with high visibility.”
Cafiero and Brent Hyldahl, investment specialists in the firm’s New Jersey office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Located on 5.13 acres at a signalized intersection, Quakerbridge Shoppes features 18 tenants, including Northfield Bank and Villa Maria’s Restaurant. The property is in a retail corridor near national retailers such as TD Bank, FedEx, and Costco, and is just two miles from the Quaker Bridge Mall. The area boasts strong demographics, with an average household income of more than $139,000 within one mile and more than 33,000 vehicles passing the intersection daily.
