Press Releases
Marcus & Millichap Brokers Sale of Mixed-Use Property in Morristown, New Jersey
July 31, 2026
MORRISTOWN, N.J. July 31, 2026 – 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 46 S. Park Place, a mixed-use property in Morristown, New Jersey. The asset sold for $2,847,604.
“This transaction reflects the continued investor demand for well-located mixed-use assets in downtown Morristown,” said Alan Cafiero, senior managing director investments in Marcus & Millichap’s New Jersey office. “Downtown Morristown remains one of Northern New Jersey’s most desirable live-work-play environments. The property’s position adjacent to the Morristown Green, along with its renovated residential units and established retail tenancy, made it a compelling opportunity.”
Cafiero, David Cafiero and John Moroz of Marcus & Millichap exclusively marketed the property on behalf of the seller and procured the private buyer.
The three-story, 5,180-square-foot building was built in 1955 and renovated in 2025. The property includes three apartments, as well as a ground-floor retail unit occupied by Mashed Burgers.
The property is one of the few buildings that surround the Morristown Green, the city's central gathering spot. It is also close to the Mayo Performing Arts Center and the Morristown station. Morristown is a suburban community approximately 30 miles west of New York City.
“This transaction reflects the continued investor demand for well-located mixed-use assets in downtown Morristown,” said Alan Cafiero, senior managing director investments in Marcus & Millichap’s New Jersey office. “Downtown Morristown remains one of Northern New Jersey’s most desirable live-work-play environments. The property’s position adjacent to the Morristown Green, along with its renovated residential units and established retail tenancy, made it a compelling opportunity.”
Cafiero, David Cafiero and John Moroz of Marcus & Millichap exclusively marketed the property on behalf of the seller and procured the private buyer.
The three-story, 5,180-square-foot building was built in 1955 and renovated in 2025. The property includes three apartments, as well as a ground-floor retail unit occupied by Mashed Burgers.
The property is one of the few buildings that surround the Morristown Green, the city's central gathering spot. It is also close to the Mayo Performing Arts Center and the Morristown station. Morristown is a suburban community approximately 30 miles west of New York City.
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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.
