A 2.61-acre net-leased property in Manasquan sold for $3.265 million, James McGuckin, regional manager of Marcus & Millichap‘s New Jersey office, announced Dec. 23.
Alan Cafiero, Brent Hyldahl, Ben Sgambati and Seth Goldberg, investment specialists in the firm’s New Jersey office, had the exclusive listing to market KinderCare at 2401 Atlantic Ave. on behalf of the limited liability company seller.
According to a statement from Cafiero, the buyer executed a 1031 exchange in making the purchase.
“The property had tremendous interest from the investment community generating multiple offers due to its prime location and long term, triple net lease,” he said.
Cafiero, Hyldahl and Goldberg also secured and represented the buyer in the transaction. Financial terms were not disclosed.
At the beginning of the month, McGuckin announced the $4.4 million sale of an East Orange apartment building.
