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

Private Investor Acquires Value-Add Mercer County Retail

Marcus & Millichap arranged the sale of Cornerstone Court, an 18,284-square-foot retail center in Pennington, NJ. The property sold for $3,925,000.

Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap’s Cafiero Team represented the seller, a private investor from New Jersey. Hyldahl, Cafiero and Goldberg, along with David Cafiero and Damien Rance, procured the buyer, also a private investor from New Jersey.

“The demand for well-located, value-add investments in New Jersey continues to remain strong,” said Goldberg. “The property is anchored by two national tenants, Subway and Dunkin’, with a drive-thru. This was highly attractive to the investment community, paired with upside potential, and the signalized corner of Route 31 contributed to a competitive process.”

Located at 1 Tree Farm Rd. in the Mercer County community of Pennington, the two-story center is 77% occupied and includes 11 tenants, with ground-floor retail and service uses and office suites on the second floor.

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Inside The Story

Marcus & Millichap's Cafiero Team

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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