659 Broadway in Long Branch — Courtesy: Marcus & Millichap
By Joshua Burd
A private partnership has sold an 8,500-square-foot mixed-use building in Long Branch for just over $1 million, according to brokers with Marcus & Millichap.
Brian C. Hosey, regional manager of the firm’s New Jersey office, said Wednesday that it represented the seller of the property at 659 Broadway. The building is located within an area that is slated to undergo redevelopment in the coming years.
Jason Petrick, an investment specialist in Marcus & Millichap’s northern New Jersey office, had the exclusive listing to market the property. Hosey said the Long Branch area is “seeing tremendous interest from out-of-state investors chasing yield while looking to capitalize on a growing submarket.”