Quakerbridge Shoppes at 3800 Quakerbridge Road in Hamilton — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has purchased a nearly 43,000-square-foot retail property in Hamilton for more than $8.3 million, in a newly announced deal by Marcus & Millichap.
Brokers with the firm represented the seller and procured the buyer in the transaction at 3800 Quakerbridge Road. They noted that the property, known as Quakerbridge Shoppes, is home to 18 tenants and sits on a 5.13-acre site in a major retail corridor.
The 42,912-square-foot complex traded for $8.336 million.
“This center had small-footprint stores and below-market rents, allowing the new owner to increase the value of the shopping center,” said Alan Cafiero, a senior managing director for investments with Marcus & Millichap. “In addition, the center was well-positioned within the market at a hard-corner, traffic-light intersection with high visibility.”
Cafiero and Brent Hyldahl of the firm’s New Jersey office completed the assignment, noting that Quakerbridge Shoppes is two miles from the Quaker Bridge Mall. They also pointed to the area’s strong demographics, citing an average household income of more than $139,000 within one mile and more than 33,000 vehicles passing the intersection daily.
Tenants include Northfield Bank and Villa Maria’s Restaurant.
