2099 North Black Horse Pike in Williamstown — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has sold the site of a nearly 15,000-square-foot AutoZone store in Gloucester County for $4.8 million, in a newly announced deal by Marcus & Millichap.
The brokerage team said the building, located in the Williamstown section of Monroe Township, changed hands after a renovation that drew the auto parts retailer to the property last year. Marcus & Millichap’s Mark Krantz and Derrick Dougherty represented the seller in association with Jim McGuckin, the firm’s broker of record in New Jersey, while colleagues Seth Goldberg, Alan Cafiero and Brent Hyldahl procured the buyer.
Krantz and Dougherty also represented the seller in its 2024 acquisition of the previously vacant, 14,840-square-foot building at 2099 North Black Horse Pike.
“The seller did an excellent job positioning the property for the market by successfully transforming a formerly vacant Rite Aid into an AutoZone hub store,” said Krantz, a senior director for investments with Marcus. “This transaction offered investors a rare opportunity to acquire a newly leased, long-term AutoZone hub location with strong rent growth, institutional-grade credit and exceptional real estate fundamentals along one of South Jersey’s most heavily traveled corridors.”
The brokers added that the store, built in 2005 and renovated last year, sits on a 2.11-acre parcel near the Berlin-Cross Keys Road intersection, which sees roughly 28,000 vehicles per day.
“The buyer was most interested in the property for its superior real estate fundamentals paired with a newly signed lease to AutoZone, a BBB-rated tenant,” said Goldberg, an associate director for investments. “The hard-corner location at one of the busiest intersections in South Jersey provides long-term stability and confidence in the asset’s ability to perform over time.”
