Press Releases
Marcus & Millichap Brokers $5.25 Million Sale of Retail Center in Northern New Jersey
October 30, 2025
PATERSON, N.J., Oct. 30, 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 fully occupied, six-tenant retail center in Paterson, New Jersey, for $5,250,000.
“Highway strip centers with service and food tenants are among the most sought-after product types on the market right now,” said Alan Cafiero, senior managing director investments in Marcus & Millichap’s New Jersey office. “We had multiple offers on this asset and ultimately sold the property to a local 1031 exchange buyer.”
Marcus & Millichap’s Alan Cafiero, David Cafiero and John Moroz, represented the seller and procured the buyer.
The 12,892-square-foot property is located at 385 McLean Blvd. and is anchored by Bank of America and Wingstop. Additional tenants include Krauszer’s, Tony’s Bagels, Mina Place and Crispy Beauty, all under triple-net leases. The center sits on a 0.96-acre parcel with 71 parking spaces and an average daily traffic count of more than 41,800 vehicles along McLean Boulevard.
The site is located near Route 4, Interstate 80, Route 21, Route 208, Route 46 and Route 3. Nearby national retailers include Burger King, 7-Eleven, Home Depot, Lowe’s and McDonald’s.
“Highway strip centers with service and food tenants are among the most sought-after product types on the market right now,” said Alan Cafiero, senior managing director investments in Marcus & Millichap’s New Jersey office. “We had multiple offers on this asset and ultimately sold the property to a local 1031 exchange buyer.”
Marcus & Millichap’s Alan Cafiero, David Cafiero and John Moroz, represented the seller and procured the buyer.
The 12,892-square-foot property is located at 385 McLean Blvd. and is anchored by Bank of America and Wingstop. Additional tenants include Krauszer’s, Tony’s Bagels, Mina Place and Crispy Beauty, all under triple-net leases. The center sits on a 0.96-acre parcel with 71 parking spaces and an average daily traffic count of more than 41,800 vehicles along McLean Boulevard.
The site is located near Route 4, Interstate 80, Route 21, Route 208, Route 46 and Route 3. Nearby national retailers include Burger King, 7-Eleven, Home Depot, Lowe’s and McDonald’s.
# # #
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.
