Investment Overview

Marcus & Millichap is proud to present for sale 481 US-22, a contemporary 28,000-square-foot freestanding retail building on 0.60 acres in North Plainfield, Somerset County. Built in 2016 with prominent US-22 frontage and excellent access/visibility, the property is delivered vacant and ready for immediate backfill or an owner-user conversion, offering efficient big-box proportions in a supply-constrained corridor. The trade area is in the middle of a reinvestment cycle that is expanding daily trips and purchasing power. Blue Star Shopping Center—minutes from the asset—launched a brand-new 72,000-SF ShopRite in April 2025 and secured $26 million of Phase-2 financing, reinforcing tenant and lender confidence on the US-22 spine. Simultaneously, the six-building, 230-unit Blue Hill at Watchung broke ground and is moving forward with completion targeted in 2026, while Denholtz’s 143-unit Rail at Bound Brook opened in June 2025. Daytime population is also rising, with Woodmont Industrial Partners redeveloping 400 Atrium Drive into a two-building, ~370,000-SF Class-A logistics campus just off I-287. Fundamentals along Route 22 East remain compelling: vacancy is approximately 3.3%, average market rents are near $28/SF with 4.3% year-over-year growth, and only ~4,600 SF is under construction—conditions that support lease-up velocity and rent growth. From a capital-markets perspective, corridor pricing averages roughly $246/SF with solid liquidity, underscoring investor appetite for well-located retail. Local policy aligns with activation. North Plainfield’s Master Plan Reexamination adopted May 14, 2025 prioritizes corridor circulation/safety improvements and encourages mixed-use in select commercial/retail zones—tailwinds for façade, access and tenant improvements at 481 US-22. This offering provides a ready-now platform to capture demand from new rooftops, rising daytime employment and sustained retailer expansion on a high-traffic, institutionally recognized corridor.