A 26,176-square-foot retail center in Hunterdon County, offering easy access to major highways including Interstate 78 and Route 22, sold for $6.18 million.

Marcus & Millichap announced the sale of the 100%-occupied property located at 37 Old Highway 22 in Clinton Feb. 27.

First Vice President Investments Brent Hyldahl and Senior Managing Director Investments Alan Cafiero had the exclusive listing to market the property on behalf of FMCD Realty LP, the seller, in addition to securing the buyer, a Garden State-based private investor.

According to Hyldahl, the asset generated “considerable interest from the investment community.”

He added that anchor tenant Walgreens recently signed a 10-year lease extension.

Last fall, a report from Placer.ai found that Walgreens welcomed more customers in 2022 than in 2019. According to the assessment – regardless of prices – the retailer is offering products that people need, like medicines. Beyond that, the brand is bolstered by its “‘hyper-localized’ footprint mak[ing] it a popular destination for consumers who may remain eager to cut back on gas, even as prices begin to decline,” according to the report.

“This shopping center has been servicing the town of Clinton for decades,” Hyldahl said in a statement. “We were able to secure a very likely buyer and assist in a relatively smooth transaction for the sellers.”

Clinton boasts a population of approximately 13,655.

The shopping center, built in 1957 and situated on a 2.4-acre lot, is near to many national retailers, including Walmart, ShopRite, Verizon, T.J. Maxx and McDonald’s.

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