May 1, 2019 Comments Off on Multi-tenant Shopping Center in Mercer Finds Buyer Views: 262 National News, New Jersey, New York News, Tri-State Area New York

Multi-tenant Shopping Center in Mercer Finds Buyer

Marcus & Millichap recently arranged the sale of Princeton Plaza, a fully-occupied highway shopping center on Brunswick Pike in Lawrenceville, NJ. The asset sold for $2,900,000.

A Marcus & Millichap team led by Shannon Bona marketed the property on behalf of the seller, a private investor. Brian Hosey acted as the broker of record. The deal team also included Mark Taylor and Derrick Dougherty.  As lead agent, Bona worked closely with the seller for more than three years throughout lease-up, to bring the shopping center to its maximum value for a sale.

“It was extremely fulfilling to help our client close on this asset, as it was a long-time family investment,” said Bona. “This is a great time to capitalize on multi-tenant retail, especially neighborhood centers as we find more and more investors seeking them to achieve yield requirements and hedge risk associated with online encroachment in the retail world.”

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