251 North Broad St. in Elizabeth — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has acquired a 16,208-square-foot retail property in Elizabeth, in a $2.65 million deal brokered by Marcus & Millichap.
The seller of the property, located at 251 North Broad St., was also a private investor, Marcus & Millichap said in a news release Wednesday. Michael Lombardi, first vice president for investments in the firm’s New Jersey office, had the exclusive listing to market the property on behalf of the seller and also secured and represented the buyer.
Marcus & Millichap New Jersey Regional Manager Brian C. Hosey said the building is steps from the Elizabeth train station, sitting in a dense urban area with 59,000 residents within one mile.