Press Releases
Marcus & Millichap Brokers $9M Sale of CVS Property in Edgewater, New Jersey
March 11, 2026
EDGEWATER, N.J., Mar. 9, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $9 million sale of a 13,361-square-foot net-leased property occupied by CVS at 65 River Road in Edgewater, New Jersey.
“This triple-net-leased investment created a tremendous amount of interest from single-tenant buyers, as well as developers and owners looking to land bank a strong future development site,” said Steven Siegel of Marcus & Millichap.
Siegel represented the seller. The buyer was procured by an outside brokerage firm.
CVS operates under a triple-net ground lease that runs through 2035. The 1-acre property is located along River Road across from Manhattan and is shadow-anchored by HomeGoods. The site is surrounded by waterfront residential developments and neighborhood retail and has access to the George Washington Bridge, NJ Transit bus service and the Edgewater Ferry landing.
“This triple-net-leased investment created a tremendous amount of interest from single-tenant buyers, as well as developers and owners looking to land bank a strong future development site,” said Steven Siegel of Marcus & Millichap.
Siegel represented the seller. The buyer was procured by an outside brokerage firm.
CVS operates under a triple-net ground lease that runs through 2035. The 1-acre property is located along River Road across from Manhattan and is shadow-anchored by HomeGoods. The site is surrounded by waterfront residential developments and neighborhood retail and has access to the George Washington Bridge, NJ Transit bus service and the Edgewater Ferry landing.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
