Press Releases
Marcus & Millichap Brokers $7.8 Million Sale of CVS-Anchored Strip Center in Union City, New Jersey
November 18, 2025
UNION CITY, N.J., Nov. 18, 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 three-tenant strip center anchored by CVS Pharmacy in Union City, New Jersey. The asset sold for $7,800,000.
“Stabilized retail centers in northern New Jersey are always in high demand from the investment community,” said Alan Cafiero, senior managing director in Marcus & Millichap’s New Jersey office. “That is especially true for this asset which is located in the most densely populated portion of the state.”
Cafiero, Brent Hyldahl, and Devin Perez represented the seller, and along with Dean Matuszewicz, procured the buyer.
Located at 4700 Bergenline Ave., the approximately 22,000-square-foot strip center is occupied by CVS Pharmacy, a laundromat and a physical therapy use on a roughly 0.92-acre parcel. The property sits at a signalized intersection spanning 47th Street, 48th Street and Bergenline Avenue, along one of Hudson County’s primary retail corridors with strong pedestrian activity and more than 10,000 vehicles per day. The site is a short distance from the 49th Street light rail station and offers convenient access to Interstates 95 and 495 and Routes 1 & 9, approximately three miles from the Lincoln Tunnel and Midtown Manhattan.
“Stabilized retail centers in northern New Jersey are always in high demand from the investment community,” said Alan Cafiero, senior managing director in Marcus & Millichap’s New Jersey office. “That is especially true for this asset which is located in the most densely populated portion of the state.”
Cafiero, Brent Hyldahl, and Devin Perez represented the seller, and along with Dean Matuszewicz, procured the buyer.
Located at 4700 Bergenline Ave., the approximately 22,000-square-foot strip center is occupied by CVS Pharmacy, a laundromat and a physical therapy use on a roughly 0.92-acre parcel. The property sits at a signalized intersection spanning 47th Street, 48th Street and Bergenline Avenue, along one of Hudson County’s primary retail corridors with strong pedestrian activity and more than 10,000 vehicles per day. The site is a short distance from the 49th Street light rail station and offers convenient access to Interstates 95 and 495 and Routes 1 & 9, approximately three miles from the Lincoln Tunnel and Midtown Manhattan.
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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.
