Shoppes at Flemington at 100 Reaville Ave. in Flemington — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has purchased a nearly 131,000-square-foot retail center in Flemington for $6.25 million, in a newly announced deal by Marcus & Millichap.
Brokers with the firm represented the seller in the trade of Shoppes at Flemington, whose tenant roster includes anchors HomeGoods and Ulta Beauty among more than two dozen national and local operators. A buyer listed as 1003 South Hanover LLC purchased the 130,613-square-foot complex at 100 Reaville Ave., which drew interest thanks in part to its position at the busy intersection of routes 202 and 31 in Hunterdon County.
“Well-located, multitenant shopping centers in northern New Jersey are one of the most sought-after product types in the market,” said Alan Cafiero, a senior managing director of investments with Marcus & Millichap. “The Shoppes at Flemington was no different, as we had over 10 written offers on the property, which ultimately sold to a buyer completing a 1031 exchange.”
Cafiero and Brent Hyldahl, investment specialists in the firm’s New Jersey office, listed the property on behalf of Shoppes at Flemington LLC.
