95 Linwood Ave. in Washington Township — Courtesy: Marcus & Millichap
By Joshua Burd
The site of a new 10,000-square-foot early education center in Bergen County has traded for $7.35 million, according to a listing team with Marcus & Millichap.
The brokerage firm said the property, located at 95 Linwood Ave. in Washington Township, is net-leased to Apple Montessori School. The asset drew interest thanks in part to its location adjacent to the Garden State Parkway and less than one mile from Route 17, Marcus said, adding that there are more than 295,000 residents within a five-mile radius and an average household income of more than $187,000 within a one-mile radius.
On-site features include an in-ground outdoor swimming pool, some 5,000 square feet of dedicated playground space and a covered drop-off area. The 1.5-acre parcel also has 33 parking spaces.
“Net lease in northern New Jersey is always in high demand, specifically Bergen County,” said Alan Cafiero, a senior managing director in Marcus & Millichap’s New Jersey office. “This property was newly built with a 15-year triple net lease, which, along with the location, attracted the buyer to the asset.”
Cafiero, David Cafiero and John Moroz represented the undisclosed seller and procured the buyer.
