Dollar Tree Plaza at 700 North 2nd St. in Millville — Courtesy: A.J. Sussman Co.
By Joshua Burd
A local investor has purchased a nearly 34,000-square-foot retail center in Millville for $2.4 million, in a newly announced deal by A.J. Sussman Co.
According to the brokerage firm, the property at 700 North 2nd St. was nearly fully leased at the time of the deal with anchor tenants including Dollar Tree and Family Dollar. The New Jersey-based buyer, YK Millville LLC, acquired the 33,841-square-foot asset as a long-term retail investment and plans to lease a roughly 5,000-square-foot endcap space to a food operator.
A.J. Sussman Founder and Principal Alan Sussman represented the seller, AF LLC, in the transaction.
“Neighborhood retail centers anchored by national discount retailers continue to attract investor demand,” Sussman said. “Dollar Tree Plaza represents a well-located asset with strong tenancy and future leasing potential.”
The firm added that, while it has historically been known for its work in the multifamily investment sales, the deal represents its third in the retail sector within a short period of time, reflecting continued demand for stabilized neighborhood retail centers. It noted that the 3.46-acre property serves as an established neighborhood shopping destination for the Millville community and benefits from strong visibility and accessibility within a retail corridor serving the greater Cumberland County market.
