37 Old Highway 22 in Clinton — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has acquired a Walgreens-anchored shopping center in Hunterdon County for nearly $6.2 million, brokers with Marcus & Millichap announced Monday.
Located at 37 Old Highway 22 in Clinton, the 26,176-square foot property is fully leased and benefits from its proximity to the likes of Walmart, ShopRite, Verizon, T.J. Maxx and McDonald’s, according to a news release. The 2.4-acre property is also accessible from major highways such as Interstate 78 and Route 22.
“This shopping center has been servicing the town of Clinton for decades,” said Marcus & Millichap’s Brent Hyldahl, first vice president for investments. “Anchored by Walgreens with a fresh 10-year lease extension, the property garnered considerable interest from the investment community. We were able to secure a very likely buyer and assist in a relatively smooth transaction for the sellers.”
Hyldahl and Alan Cafiero, who are based in the firm’s Saddle Brook office, represented FMCD Realty LP in the $6.18 million sale and procured the buyer.
