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

Adjacent Retail Properties in Maplewood Go for $4.3M

Marcus & Millichap closed the sale of two adjacent retail properties in Maplewood, NJ for $4,262,500. Located at 1812 and 1802 Springfield Ave., the 12,415-square-foot freestanding properties are leased to Dollar General and Sherwin-Williams.

“Credit-tenant net leases in northern New Jersey always generate tremendous demand from the investment community,” said Alan Cafiero, senior managing director investments. “In addition to investment-grade credit, this property was located along one of the main retail corridors in Maplewood with excellent visibility.” 

Alan Cafiero, David Cafiero and Dean Matuszewicz, investment specialists in Marcus & Millichap’s New Jersey office, exclusively marketed the property on behalf of the seller and procured the buyer. 

The Dollar General building was recently renovated and features a new 10-year lease with two five-year renewal options and scheduled rent increases. Sherwin-Williams has occupied the site since 1986 and recently completed façade improvements. Other national retailers nearby include Advance Auto Parts, Walgreens, Wawa and T-Mobile.

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Marcus & Millichap's Cafiero

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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