3217 Quakerbridge Road in Hamilton — Courtesy: Marcus & Millichap
By Tina Traster
A private LLC has sold a net-leased service station property in Hamilton for $4.15 million, in a newly announced deal by Marcus & Millichap.
Alan Cafiero and Brent Hyldahl, investment specialists in the brokerage firm’s New Jersey office, represented the seller of the Exxon property at 3217 Quakerbridge Road. An undisclosed buyer purchased the asset.
“The property offered a long-term lease with annual rent increases from a credit tenant which was perceived extremely well from the market,” Cafiero said. “We generated multiple offers and sold the asset to an out-of-state buyer in a 1031 exchange.”
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.
