Marcus & Millichap : Arranges Sale of National Tenant Strip Center in New Jersey
June 27, 2024 at 02:53 am IST
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Marcus & Millichap Arranges Sale of National Tenant Strip Center in New Jersey
June 26, 2024
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FLEMINGTON, N.J, June 26, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a two-tenant strip center located in Flemington, New Jersey. The property sold for $7,500,000.
"Unanchored strips with national tenants are a popular category today among private and institutional investors," said Dean Zang, executive managing director investments, who led the transaction.
Zang, David Crotts, Alan Cafiero and Brent Hyldahl, investment specialists in Marcus & Millichap's Washington D.C. and New Jersey offices, had the exclusive listing to market the property on behalf of the seller, Paramount Realty out of New Jersey. Tom Georges, a vice president at Northmarq's New York City office, represented the buyer, a local private investor.
The strip center is located at 289 US-202 in the Hunterdon County submarket of Flemington. The med-tail oriented property features Aspen Dental, the largest branded dental organization in the world, and City MD Urgent Care, the largest provider of urgent care in New York and New Jersey. Renovated in 2023, the 7,388-square-foot asset is in a busy retail corridor with notable retail neighbors including Chipotle and Chick-fil-A.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
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26 June 2024 and is solely responsible for the information contained therein. Distributed by
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Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
