625 Branch Ave. in Little Silver — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has purchased the site of a nearly 8,000-square-foot specialty grocery store in Monmouth County, in a newly announced deal by Marcus & Millichap.
Brokers say the property, located at 625 Branch Ave. in Little Silver, is net-leased to Healthfair Organic Grocery Store. An undisclosed firm sold the 7,920-square-foot asset for $3 million, with Marcus & Millichap’s Alan Cafiero, Brent Hyldahl and Seth Goldberg completing the transaction.
“There was a tremendous amount of interest in this property from the investment community immediately after launching to the market,” Goldberg said. “Several offers were generated, creating competition, which ultimately led to accepting an offer from a 1031 buyer who closed on the deal.”
