Marcus & Millichap's Cafiero Group arranged the deal, which involved an out-of-state buyer in a 1031 exchange.

Marcus & Millichap announced the sale of the 32,000-square-foot mixed-use property.

Featuring Stop & Shop and Marshalls as tenants, the more than 189,000-square-foot West Caldwell complex was acquired as part of a 1031 exchange.

The Kislak Co. Inc. announced the off-market transaction for the first new residential rental building to rise in the Bergen County municipality in 20 years.

According to a statement from an investment specialist from the firm's New Jersey office, Alan Cafiero, the limited liability company buyer executed a 1031 exchange in making the purchase.

The Woodbridge-based real estate agency facilitated the multi-state transaction for its longtime client, helping bring value-added properties to its portfolio.