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Net-leased auto service, fueling location sells for $4.15M
Marcus & Millichap arranges Hamilton sale of Exxon property
Jessica Perry//June 14, 2022//
Net-leased auto service, fueling location sells for $4.15M
Marcus & Millichap arranges Hamilton sale of Exxon property
Jessica Perry//June 14, 2022//
Marcus & Millichap has secured another net-lease sale, this one arranged for a property that is home to an auto service and fueling station.
James McGuckin, regional manager of the firm’s New Jersey office, announced the sale of Exxon (CrossAmerica Partners – Hard Corner Location), a net-leased property located at 3217 Quakerbridge Road in Hamilton Township, for $4.15 million.
Investment specialists Alan Cafiero and Brent Hyldahl from the office’s Cafiero Group had the exclusive listing to market the property on behalf of its seller, a limited liability company.
“The property offered a long-term lease with annual rent increases from a credit tenant which was perceived extremely well from the market,” Cafiero said in a statement. “We generated multiple offers and sold the asset to an out of state buyer in a 1031 exchange.”
Cafiero has had a hand in other recent net-lease property transactions, including a $2.25 million sale in Union and the $3.8 million sale of a property occupied by a national bank brand in Clifton.
