MARCUS & MILLICHAP ARRANGES THE SALE OF A 11,150-SQUARE FOOT RETAIL PROPERTY

ROXBURY TOWNSHIP, NJ, December 22, 2021 – 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 Ledgewood Center, a 11,150-square foot retail property located in Roxbury Township, NJ, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $1,359,000.

Derrick Dougherty and Steve Garthwaite, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Derrick Dougherty and Steve Garthwaite.

Ledgewood Center is located at 1451 US-46 in Roxbury Township, NJ. The asset sits on a 0.78-Acre Parcel in Ledgewood, NJ which has seen continued Population Growth year over year, with an unemployment rate of 5.2%.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.