2401 Atlantic Ave. in Manasquan — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has purchased the site of a net-leased childcare center in Manasquan for nearly $3.3 million, in a newly announced deal by Marcus & Millichap.
Brokers with the firm represented an undisclosed seller in its sale of 2401 Atlantic Ave., which is home to a KinderCare location. The structure sits on 2.61 acres, providing users with quick access to routes 34 and 35 and the Garden State Parkway.
Alan Cafiero, Brent Hyldahl, Ben Sgambati and Seth Goldberg of Marcus & Millichap’s New Jersey office brokered the $3.265 million transaction.
“The property had tremendous interest from the investment community, generating multiple offers due to its prime location and long-term, triple net lease,” Cafiero said. “The purchaser completed a 1031 exchange in buying this asset.”