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Marcus & Millichap facilitates the sale of a 114,249 s/f retail shopping center in Hackettstown, NJ


HACKETTSTOWN (MOUNT OLIVE), NJ, Philadelphia< PA — Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Mount Olive Parkade, a 114,249 s/f shopping center located in Hackettstown (Mount Olive), according to James McGuckin, regional manager of the firm’s New Jersey office. The asset sold for $6 million. Michael Lombardi and Steven Schiavello, investment specialists in Marcus & Millichap’s New Jersey office, had the listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Lombardi and Schiavello. In Philadelphia, Sean Beuche, regional manager of the Philadelphia office of Marcus & Millichap announced the sale of TD Bank & Little Caesars Strip Center, a 3,573 s/f retail property. The asset sold for $1,611,594. Derrick Dougherty and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the listing to market the property on behalf of the seller. The buyer was secured and represented by Dougherty and Woodard. “It was a collective effort by all parties involved. Both the sellers and buyers should be commended and acknowledged for their professionalism and patience throughout the transaction period during the COVID-19 era. This asset stood tall through some particularly challenging times and both tenants remained open and paying rent throughout the duration of the last six months,” said Dougherty.


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