Rug Mill Plaza at 20 Jackson St. in Freehold — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has sold a nearly 20,000-square-foot retail property in Freehold, in a newly announced transaction by Marcus & Millichap.
The buyer, whose name was also not disclosed, paid $3.925 million for the complex at 20 Jackson St. Marcus & Millichap investment specialists Derrick Dougherty and Mark Krantz represented the seller and secured the buyer, working out of the firm’s Philadelphia office, with assistance from Brian Hosey, its broker of record in New Jersey.
“The Rug Mill Plaza is an exceptionally well-positioned neighborhood center wedged between two apartment buildings,” Krantz said, adding that the property’s tenant mix “provides the local community with extensive retail and medical services that meet the demand for the submarket’s consumers.
“This center is a stable and attractive investment with strong cash flow in the heart of Freehold. Both its seller and buyer demonstrated complete professionalism throughout the transaction process.”
