Marcus & Millichap Arranges Sale of Chesterbrook Academy in New Jersey for $5.42M

MOORESTOWN, N.J., Nov. 11, 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 Chesterbrook Academy, a day care center leased by Spring Education Group located in Moorestown, New Jersey. The property sold for $5,418,000.

Sean Lenchner, Mark Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap's Columbus and Phoenix offices, procured the buyer, a limited liability company. John Horowitz, Broker of Record in New Jersey, assisted in closing the transaction.

The 8,420-square-foot property, located at 130 Borton Landing Road, is about 30 minutes from downtown Philadelphia. Spring Education Group, a leading operator of PreK-12 private schools in the U.S., holds a triple-net lease on the property with 20 years remaining.

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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.