Marcus & Millichap on Wednesday announced it successfully sold a 29,411-square-foot retail center located at 1835 NJ-35 in Middletown Township for $5.8 million.
“Service oriented strip centers with smaller footprint stores are commanding significant interest from the investment community,” Alan Cafiero, senior managing director investments said. “That, combined with a recently renovated building with great visibility along one of New Jersey’s most trafficked highways, made this a highly coveted asset.”
Cafiero, Brent Hyldahl and Seth Goldberg, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The recently renovated retail center, anchored by Benjamin Moore Paints, is situated on 1.94 acres along the busy Route 35 corridor, which sees more than 35,000 vehicles daily. The property includes 10 tenants and is located near major retailers such as Target, ShopRite, and TJ Maxx, with convenient access to Route 36 and the Garden State Parkway.
