616-624 Main St. in Woodbridge — Courtesy: Marcus & Millichap
By Joshua Burd
A developer has sold a 12,200-square-foot retail building in Woodbridge, in a nearly $6 million deal arranged by Marcus & Millichap.
The brokerage firm’s New Jersey office said Tuesday that it represented the seller of the property at 616-624 Main St., which houses Children’s World Academy and Northfield Bank as tenants. A private investor paid $5.85 million for the building.
The Marcus & Millichap team of Alan Cafiero, Ben Sgambati and Brent Hyldahl, investment specialists in its Saddle Brook office, had the exclusive listing to market the property on behalf of the seller, according to a news release. The team also secured and represented the buyer.
Brian C. Hosey, regional manager for Marcus & Millichap, said the seller is moving on to other development projects, while the buyer was seeking a stable income stream and asset appreciation. He also noted that there are 330,000 people living within five miles.
