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

Matawan Retail Trades to Private Investor for $15M

Marcus & Millichap completed the sale of Park Plaza, a retail center in Matawan, NJ. The asset sold for $14.67 million.

“Park Plaza attracted significant investor interest due to its diverse tenant mix, strong visibility and strategic location within one of Monmouth County’s most established retail corridors,” said Seth Goldberg, associate director investments in Marcus & Millichap’s New Jersey office. “Well-positioned neighborhood shopping centers with durable cash flow continue to be highly sought after, and this transaction reflects the sustained demand for quality retail assets in New Jersey.”

Goldberg, Brent Hyldahl and Alan Cafiero of Marcus & Millichap marketed the property for the seller and procured the buyer, both private investors from New Jersey.

Located at 343-351 State Rte. 34, the retail center sits on a 5.86-acre lot totaling 61,750 square feet. It was built in 1986 and contains 20 suites. The rent roll features a diverse mix of dining, lifestyle, retail and service-oriented tenants, including a Dunkin’ with a drive-thru.

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Marcus & Millichap's Goldberg

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