350 Market St. in Saddle Brook — Courtesy: Marcus & Millichap
By Joshua Burd
A local private investor has purchased nearly 14,000 square feet of retail and office space in Saddle Brook for more than $3.1 million, brokers with Marcus & Millichap said Tuesday.
According to a news release, the property at 350 Market St. has seven ground-floor retail units and seven office units on the second floor. The 13,612-square-foot building drew interest from would-be investors thanks in part to its location near several highways, including routes 46 and 17, Interstate 80 and the Garden State Parkway, as well as national retailers such as Starbucks, ACME and Wells Fargo.
Marcus & Millichap’s Alan Cafiero, David Cafiero and John Moroz, investment specialists in the firm’s New Jersey office, represented Commerce Park Investors LLC in the $3.126 million deal and procured the buyer.
“Mixed-use assets are an excellent diversification for today’s investor,” said Alan Cafiero, a senior managing director for investments. “350 Market is a newly renovated property located along a highly trafficked commercial corridor in Bergen County, which is appealing to many private investors.”
