The Willow Point shopping center at 184 Route 9 in Marlboro — Courtesy: Cushman & Wakefield
By Joshua Burd
A private investor has purchased a 35,000-square-foot retail property in Monmouth County, in a newly announced transaction by Cushman & Wakefield.
Located at 184 Route 9 in Marlboro, the Willow Point shopping center is 85 percent leased to 17 tenants. Cushman & Wakefield represented the undisclosed seller, touting the 5.38-acre site’s abundant parking and visibility along the highway.
Terms were not disclosed.
“This asset’s U.S. Highway 9 location offers convenience and accessibility from many local residences, as well as the 75,000 vehicles that drive by per day,” C&W’s Andrew Schwartz said. “The center has historically boasted strong occupancy and has a diversified rent role and solid in-place cash flow.”
Schwartz completed the deal alongside Andy Merin, Jordan Sobel, Brian Whitmer, Max Helfman and Andre Balthazard.
Tenants at Willow Point include Allstate Insurance, Kumon Learning Center, Smile of Marlboro dentist group and several dining establishments.