Marcus & Millichap Arranges The Sale Of A 16,553-Square Foot Net-Leased Property in Union, NJ
Union, NJ, April 22, 2022 --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 Boston Market Ground Lease, a 16,553-square foot net-leased property located in Union, NJ, according to James McGuckin, regional manager of the firm's New Jersey office. The asset sold for $2,250,000.
Alan Cafiero and David Cafiero, investment specialists in Marcus & Millichap's New Jersey office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The team also secured the buyer, a limited liability company.
Alan Cafiero comments, "Quick Service Restaurants (QSRs) continue to be one of the hottest net lease sectors among 1031 investors looking for stable cashflow."
Boston Market Ground Lease is located at 523 Chestnut St in Union, NJ. The site was built in 1995 and has 13.2 years remaining on the lease.
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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.