600 West Union Ave. in Bound Brook — Courtesy: Marcus & Millichap
By Joshua Burd
A developer has sold an 8,400-square-foot retail center in Bound Brook for more than $3 million, in a deal brokered by Marcus & Millichap’s New Jersey office.
In a news release, the brokerage said a private investor acquired the 7-Eleven-anchored property at 600 West Union Ave. Marcus & Millichap represented both the seller and the buyer in the $3.145 million transaction.
“There were multiple offers as soon as this deal hit the market,” said Brent Hyldahl, one of the Marcus & Millichap investment specialists who arranged the sale. “We were able to secure an offer at full price through a local client in a 1031 exchange.”
Hyldahl worked alongside Ben Sgambati and Alan Cafiero on the transaction. They noted that the property sits along a retail corridor that also includes national tenants such as Shoprite, Walgreens and CVS.