Press Releases
Marcus & Millichap Brokers Sale of Mavis Discount Tire Property in Coastal New Jersey
June 23, 2025
TOMS RIVER, N.J., June 23, 2025 – 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 net-leased 6,853-square-foot property in Toms River, New Jersey, for $3,493,750.
“Net-leased assets with credit in New Jersey continue to draw interest from investors looking for durable cash flow,” said Alan Cafiero, senior managing director investments. “This Mavis location offered a long-term, absolute net lease with solid credit, ideal for this buyer’s 1031 exchange.”
Cafiero, Brent Hyldahl and Seth Goldberg, investment specialists in Marcus & Millichap’s New Jersey office, exclusively marketed the property on behalf of the seller and procured the buyer.
Located at 280 Route 37 East, the one-story building is situated on 1.22 acres. It is leased to Mavis Discount Tire under a corporate-guaranteed net lease through 2030. Nearby retailers and service providers include Ocean County Mall, Target, Lowe’s, Wawa, Chick-fil-A and Starbucks.
“Net-leased assets with credit in New Jersey continue to draw interest from investors looking for durable cash flow,” said Alan Cafiero, senior managing director investments. “This Mavis location offered a long-term, absolute net lease with solid credit, ideal for this buyer’s 1031 exchange.”
Cafiero, Brent Hyldahl and Seth Goldberg, investment specialists in Marcus & Millichap’s New Jersey office, exclusively marketed the property on behalf of the seller and procured the buyer.
Located at 280 Route 37 East, the one-story building is situated on 1.22 acres. It is leased to Mavis Discount Tire under a corporate-guaranteed net lease through 2030. Nearby retailers and service providers include Ocean County Mall, Target, Lowe’s, Wawa, Chick-fil-A and Starbucks.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
