Marcus & Millichap brokers $8.228M in retail sales
SEWELL, NJ — Marcus & Millichap announced the sale of Wawa, a 2,000 s/f net-leased property located in Sewell. The asset sold for $5.403 million at a 4.50 percent capitalization rate. The buyer, a limited liability company, was secured and represented by Derrick Dougherty, first vice president investments, and Scott Woodard, associate, in Marcus & Millichap’s Philadelphia office. Brian Hosey is the firm’s broker of record in New Jersey. Wawa is located at 485 Woodbury Glassboro Rd. In a second transaction, Marcus & Millichap announced the sale of a 4,970 s/f retail property, occupied by Starbucks and Kay Jewelers, located in Pace, FL, for $2.825 million according to Hosey.