Press Releases
Marcus & Millichap Brokers $6.25M Sale of 130,613-Square-Foot Retail Center in Flemington, New Jersey
March 29, 2024
FLEMINGTON, N.J., Mar. 29, 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 the Shoppes at Flemington in New Jersey for $6,250,000.
"Well-located, multi-tenant shopping centers in northern New Jersey are one of the most sought-after product types in the market," said Alan Cafiero, senior managing director of investments. "The Shoppes at Flemington was no different, as we had over ten written offers on the property, which ultimately sold to a buyer completing a 1031 exchange."
Cafiero and Brent Hyldahl, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, Shoppes at Flemington, LLC and procured the buyer, 1003 South Hanover, LLC.
The 130,613-square-foot retail center is located at 100 Reaville Ave., positioned at the main intersection of Route 202 and Route 31 in Hunterdon County. The center is comprised of 26 national and local tenants and is anchored by Homegoods and Ulta Beauty.
"Well-located, multi-tenant shopping centers in northern New Jersey are one of the most sought-after product types in the market," said Alan Cafiero, senior managing director of investments. "The Shoppes at Flemington was no different, as we had over ten written offers on the property, which ultimately sold to a buyer completing a 1031 exchange."
Cafiero and Brent Hyldahl, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, Shoppes at Flemington, LLC and procured the buyer, 1003 South Hanover, LLC.
The 130,613-square-foot retail center is located at 100 Reaville Ave., positioned at the main intersection of Route 202 and Route 31 in Hunterdon County. The center is comprised of 26 national and local tenants and is anchored by Homegoods and Ulta Beauty.
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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.
