December 10, 2018
Marcus & Millichap has arranged the sale of Quick Chek Plaza, a 25,800-square foot assemblage of retail shops at 881 Main St. in the Middlesex County community of Sayreville, NJ for $6.725 million.
Alan Cafiero, Brent Hyldahl, Ben Sgambati and Michael DeVita, investment specialists in Marcus & Millichap’s New Jersey office, marketed the property on behalf of the seller, a developer. The team also secured and represented the buyer, a limited liability company.
“There is still a demand for well-located retail centers with smaller, service-oriented tenants,” said Cafiero. “We received multiple offers on this asset, which generated a sub-7% cap rate.”
Quick Chek Plaza benefits from its location near Garden State Parkway Exit 124, seeing over 15,000 cars per day on Main Street. The strip center is currently 89% occupied with 13 tenants.
For comments, questions or concerns, please contact Paul Bubny