Marcus & Millichap arranged the sale of Cornerstone Court, an 18,284-square-foot retail center in Pennington, NJ. The property sold for $3,925,000.
Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap’s Cafiero Team represented the seller, a private investor from New Jersey. Hyldahl, Cafiero and Goldberg, along with David Cafiero and Damien Rance, procured the buyer, also a private investor from New Jersey.
“The demand for well-located, value-add investments in New Jersey continues to remain strong,” said Goldberg. “The property is anchored by two national tenants, Subway and Dunkin’, with a drive-thru. This was highly attractive to the investment community, paired with upside potential, and the signalized corner of Route 31 contributed to a competitive process.”
Located at 1 Tree Farm Rd. in the Mercer County community of Pennington, the two-story center is 77% occupied and includes 11 tenants, with ground-floor retail and service uses and office suites on the second floor.
The post Private Investor Acquires Value-Add Mercer County Retail appeared first on Connect CRE.
