Marcus & Millichap Arranges the Sale of a 19,723-Square-Foot Retail Property
- christopherwiener
- Jul 7, 2022
- 2 min read
FREEHOLD, NJ, February 10, 2022 – 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 Rug Mill Plaza, a 19,723-square-foot retail property located at 20 Jackson St in Freehold, NJ, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $3,925,000.
Derrick Dougherty and Mark Krantz, investment specialists in Marcus & Millichap’s Philadelphia office, sold the property on behalf of the seller, a limited liability company. The listing team also secured the buyer, another limited liability company. Brian Hosey, Marcus & Millichap’s broker of record in New Jersey, assisted in closing this transaction.
“The Rug Mill Plaza is an exceptionally well-positioned neighborhood center wedged between two apartment buildings. With over 250 units, its tenant mix provides the local community with extensive retail and medical services that meet the demand for the submarket’s consumers,” said Krantz. “This center is a stable and attractive investment with strong cash flow in the heart of Freehold, NJ. Both its seller and buyer demonstrated complete professionalism throughout the transaction process.”
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.
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