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New York & Tri-State  + New Jersey  + Retail  | 

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.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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