Maintree Shopping Center at 301 South Main Road in Vineland — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has sold a grocery-anchored shopping center in Vineland for $19.3 million, in a newly announced deal by Marcus & Millichap.
According to the brokerage team, a California-based firm purchased the 138,445-square-foot property at 301 South Main Road, known as Maintree Shopping Center. Marcus & Millichap’s Joseph C. French Jr., Kodi Traver and Thomas Dalzell listed the property on behalf of Aspen Vineland LLC, describing it as a dominant retail destination in the eastern section of Vineland.
“We were able to identify a buyer who understood the property and will be able to backfill the vacancies, thereby being able to pay an aggressive price,” said French, whose team is based in the firm’s Westchester, New York, office and who secured and represented the buyer.
Built in 1996, Maintree Shopping Center sits at the busy intersection of South Main Road and East Chestnut Avenue. An Acme supermarket anchors the complex, which is also home to Boston Market, Burger King, Pizza Hut, Sino Wok and Primo Hoagies, among several national and regional tenants.
