The Lincroft Grove at 644 Newman Springs Road in Middletown — Courtesy: Marcus & Millichap
By Joshua Burd
A private buyer has paid nearly $4 million for a 12,000-square-foot retail property in Monmouth County, in a newly completed transaction by Marcus & Millichap.
Brokers with the firm announced that an undisclosed LLC purchased the asset at 644 Newman Springs Road in Middletown. Located one mile from Garden State Parkway Exit 109, the property known as The Lincroft Grove is home to several restaurant tenants and service providers such as nail and tanning salons.
Jason Petrick and Michael Lombardi, investment specialists in Marcus & Millichap’s New Jersey office, represented the seller and buyer, respectively. The property traded for $3.93 million.