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Marcus & Millichap arrange sale of 40K-square-foot Toms River retail center
Jessica Perry//November 23, 2022
Marcus & Millichap arrange sale of 40K-square-foot Toms River retail center
Jessica Perry//November 23, 2022
A 40,050-square-foot retail center in Toms River sold for $9.25 million.
James McGuckin, regional manager of Marcus & Millichap‘s New Jersey office, announced the sale of West Hills Plaza Nov. 21.
Investment specialists Alan Cafiero, Brent Hyldahl and Seth Goldberg exclusively listed and marketed the property on behalf of the seller, an individual/personal trust, in addition to securing the buyer, a limited liability company.
At the time of sale the property was 96% occupied.
“There was a great amount of interest in this site from the investment community due to its prime location and high traffic counts,” Goldberg said in a statement. “The Investors Bank branch, now Citizens Bank, has over $300 million in deposits. Navigating through the volatile financing environment was challenging but buyer and seller worked together to ultimately close the deal.”
Other tenants at the center located at 864 Route 37 include NJ Community Spine, Atlantic Medical Imaging, Alphabets Daycare and H&R Block.
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