Press Releases
Marcus & Millichap Announces $3.5M Sale of The Vitamin Shoppe in Northern New Jersey
June 10, 2024
UNION, N.J., June 10, 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 Vitamin Shoppe, in Union, New Jersey. The asset sold for $3,545,000.
"Net-leased assets along major retail corridors in northern New Jersey continue to be in high demand," said Alan Cafiero, senior managing director of investments. "The Vitamin Shoppe is located on one of the most highly sought-after stretches of commercial highway in New Jersey, Center Island, Route 22."
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, the Klein Group LLC, and secured the buyer, Greg Jemal.
The New Jersey-based retailer of nutritional supplements is located at 2702 US-22. The 4,859-square-foot Vitamin Shoppe is situated on a prime "Center Island" location on Route 22, providing frontage on both the eastbound and westbound lanes of the highway. The property features a NN lease with over 177,000 people and an average household income of over $134,000 within a three-mile radius. The Route 22 retail corridor is home to numerous national retailers, including Target, Walmart, Dick's Sporting Goods, and Big Lots.
"Net-leased assets along major retail corridors in northern New Jersey continue to be in high demand," said Alan Cafiero, senior managing director of investments. "The Vitamin Shoppe is located on one of the most highly sought-after stretches of commercial highway in New Jersey, Center Island, Route 22."
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, the Klein Group LLC, and secured the buyer, Greg Jemal.
The New Jersey-based retailer of nutritional supplements is located at 2702 US-22. The 4,859-square-foot Vitamin Shoppe is situated on a prime "Center Island" location on Route 22, providing frontage on both the eastbound and westbound lanes of the highway. The property features a NN lease with over 177,000 people and an average household income of over $134,000 within a three-mile radius. The Route 22 retail corridor is home to numerous national retailers, including Target, Walmart, Dick's Sporting Goods, and Big Lots.
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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.
