1 West Mount Pleasant Ave. in Livingston — Courtesy: Marcus & Millichap
By Joshua Burd
A developer has sold a fully leased, 7,846-square-foot retail center in Livingston for nearly $6 million, according to brokers with Marcus & Millichap.
The brokerage firm said the property, located at 1 West Mount Pleasant Ave., is leased to Verizon Wireless, Starbucks, Haven Savings Bank and Tracey Butler Home Design. The buyer was a New York-based investor who made deal as part of a 1031 exchange.
The Marcus & Millichap team of Alan Cafiero, David Cafiero and Ben Sgambati marketed the property on behalf of the unnamed seller. The noted that Starbucks, Haven Savings and Tracey Butler Home Design recently renewed.
“There was a tremendous amount of activity on this property with six written offers in the first two weeks of marketing,” Cafiero said. “The location of the asset and the outstanding tenant line up drew the investors to this opportunity.”
