Press Releases
Marcus & Millichap Sells Westfield Retail Property for $4.7 Million
February 12, 2024
WESTFIELD, N.J., Feb. 12, 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 single-tenant property in Westfield, New Jersey. The property sold for $4.7 million.
"Investment properties located in transit-oriented downtowns always have significant interest from the investment community,” said Alan Cafiero, senior managing director investments. “This deal was no different as this asset was located just two blocks from the Westfield train station. In addition, Westfield is one of the most sought-after downtowns in all of New Jersey.”
Alan Cafiero, David Cafiero, and Dean Matuszewicz, 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, a local LLC.
The Gap located at 207 E Broad St., is situated one block from the Westfield New Jersey train station. The two-story retail property spanning 35,968 square feet has been at this location for nearly 30 years. Nearby national retailers include Trader Joe’s, Five Guys, Starbucks, and Walgreens.
"Investment properties located in transit-oriented downtowns always have significant interest from the investment community,” said Alan Cafiero, senior managing director investments. “This deal was no different as this asset was located just two blocks from the Westfield train station. In addition, Westfield is one of the most sought-after downtowns in all of New Jersey.”
Alan Cafiero, David Cafiero, and Dean Matuszewicz, 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, a local LLC.
The Gap located at 207 E Broad St., is situated one block from the Westfield New Jersey train station. The two-story retail property spanning 35,968 square feet has been at this location for nearly 30 years. Nearby national retailers include Trader Joe’s, Five Guys, Starbucks, and Walgreens.
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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.
