Marcus & Millichap Brokers $2.5 Million Sale of Grocery-Anchored Shopping Center in Paulsboro New Jersey

PAULSBORO, N.J., Nov. 6, 2024 - 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 grocery-anchored shopping center in Paulsboro, New Jersey, for $2,502,900.

"Value-add, grocery-anchored shopping centers in New Jersey are among the most in-demand asset classes in the market today," said Alan Cafiero, senior managing director investments. "As expected, we had tremendous activity on this deal, which ultimately sold to a buyer executing a 1031 exchange."

Cafiero, Brent Hyldahl and Seth Goldberg, investment specialists in Marcus & Millichap's New Jersey office, exclusively marketed the property on behalf of the seller and buyer, both private investors.

Located at 545 W. Broad St., the 46,236-square-foot property is anchored by Save-A-Lot Food Stores and Dollar Tree, with additional potential for pad site development. Positioned in front of the ExxonMobil Lube Plant and near the Paulsboro Refinery, the property is close to major employment centers and Interstate 295.

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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, 2023, the company had 1,783 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.