1901 Greenwood Ave. in Trenton — Courtesy: Marcus & Millichap
By Joshua Burd
A private buyer has closed on a 10,000-square-foot dollar store property in Trenton, acquiring the net-leased asset for more than $1.7 million.
Marcus & Millichap, which brokered the transaction, said the property at 1901 Greenwood Ave. is home to a Family Dollar location. The firm represented the buyer and seller, both unnamed LLCs, in the $1.73 million transaction.
“The property was sold to an investor in a 1031 exchange who was looking for a credit tenant with minimal landlord responsibility,” said Brent Hyldahl, an investment specialist with Marcus & Millichap. “Single-tenant net-lease product has continued to be a safe haven for passive investors over the last few months.”
Hyldahl completed the assignment alongside Alan Cafiero and Ben Sgambati, who are also based in the firm’s New Jersey office. They also secured the buyer alongside Matt Leszyk, also of Marcus & Millichap.
