Newark, NJ — Marcus & Millichap announced the sale of Spring Street Commons, a 43,860 s/f of land located in Newark for $4 million according to Brian Hosey, regional manager of the firm's New Jersey office.
Carlos Zapata, investment specialists in Marcus & Millichap's New Jersey office, had the listing to market the property on behalf of the seller, a developer.
Spring Street Commons is located at 73-87 Clay St. in Newark. The land is fully approved for 84 residential units over 4,630 s/f of retail space. The city will be completing the revitalizing surrounding landscape and traffic patterns to encourage further retail shopping in the area by 2018.