Retail center in Manchester sells for 1.575M

Eric Strauss//November 11, 2016

The two-building retail center known as GreenTree at Manchester, in the Ocean County township of that name, has been sold for $1.575 million, according to real estate services firm Marcus & Millichap.The 9,790-square-foot property is located at 2111 Route 37 West, the firm said in a news release, and has two tenants: STS and Spirits Express.

“GreenTree was widely marketed, resulting in many offers from buyers at Marcus & Millichap and other brokers,” the firm’s David E. Thurston said in a prepared statement. “The marketed developed into bidding for the property, yielding a price and terms very satisfactory to the seller.”

Thurston and Charles Loccisano, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing. The property was bought by one limited liability company from another.

“This was the second property we have sold for the seller,” Loccisano said in a statement. “Our comprehensive marketing and follow-up during the entire process through closing makes the process easy for our sellers.”